MEXICO CITY (Standard&Poor's) July 18, 2003-- Standard&Poor's Ratings Services said today that the downgrade of Kimberly-Clark Corp. (KCC, AA-/Stable/A-1+), owner of 47.9% of Kimberly-Clark de México S.A de C.V. (KCM, local currency: A-/Stable/--; foreign currency: BBB+/Stable/--), has no impact on the rating or outlook of KCM. The foreign currency rating on KCM is above the foreign currency rating of the United Mexican States because of KCC's documented support for KCM in the form of a comfort letter stating that KCC will, at the request of KCM, extend its support in the case of a Mexican currency crisis. With the downgrade, the rating of KCC is still three notches above that of KCM. The downgrade on KCC
