...Sector and Sub-Sectors: This report presents the key peer comparator elements observed or expected for packaged food companies. The packaged food sector covers companies whose primary business is to manufacture and sell processed food that is bought by consumers. This segment is also referred to as fast-moving consumer goods (FMCGs) sold to the end- consumer via retailers. Key Factors: The Sector Risk Profile defines and groups companies operating in the sector into a "natural rating territory" based on Fitch Ratings' view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range. After assessing the operating environment, then management and corporate governance, the navigator examines four sector-specific factors for given rating levels. Finally, three financial profile factors help capture financial attributes commensurate with particular rating categories....
