New York, November 16, 2016 -- Moody's Investors Service assigned a Baa2 rating to Eastman Chemical Company's (Eastman) offering of new unsecured Euro notes and a (P)Baa2 rating to Eastman's universal shelf registration. Moody's also stated that the rating on Eastman's 1.5% Euro notes due 2023 remains unchanged at Baa2. As part of this offering, Eastman will be adding to the 2023 notes it issued in May of 2016, as well as issuing new debt from its shelf registration. Eastman intends to issue new senior unsecured Euro notes to finance the previously announced Tender Offer of up to $400 million, redeem its 6.3% 2018 notes, redeem a portion of their outstanding 2.4% 2017 notes, and for general corporate purposes. The outlook is stable.

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