A disciplined management team that has displayed strong continuity with respect to strategy and philosophy; Massive, highly profitable, and geographically diverse oil and gas operations; A large backlog of major projects, which should increase the company's production through 2014; Outstanding financial flexibility, reflecting substantial free cash flow generation and large cash balances; and Excellent technical talent and a track record of completing large, complex projects on time. Exposure to a volatile and capital-intensive industry; and Potential for litigation that could result in high liability payments. The ratings on Irving, Texas-based ExxonMobil Corp. reflect Standard&Poor's Ratings Services' view of the company's "excellent" business risk profile, which is based on its outstanding competitive positions in all facets of the oil
