Well-known brands with good market positions, Product diversification within packaged food, and Broad market penetration in the U.S. Exposure to volatile commodity costs, and Limited geographical diversification, with the majority of sales in North America. Standard&Poor's Ratings Services' ratings on Omaha, Neb.-based ConAgra Foods Inc. reflect our view that the company's business risk profile is "satisfactory" and its financial risk profile is "intermediate". Key credit factors considered in our business risk assessment include the company's well-recognized brands with good market positions, product diversity, participation in the highly competitive although relatively stable packaged food industry (albeit with exposure to volatile raw material costs), and limited geographic diversification. ConAgra's "intermediate" financial risk profile reflects the company's moderate financial leverage, consistent
