Standard&Poor's said today that Kimberly-Clark Corp.'s (AA/Stable/A-1+) announcement that its fourth-quarter fiscal 2002 operating earnings will fall below previous guidance has no impact on the company's current ratings or outlook. The expected shortfall is caused by competitive challenges in the North American and European diaper and training pants categories, as well as weaker-than-expected revenues in several regions, including Latin America, Mexico, and Asia. Nonetheless, Standard&Poor's anticipates that the company's financial performance will meet its expectations in the intermediate term. In addition, Kimberly-Clark has indicated that it is taking steps to get operations back on track.
