A disciplined management team with a strong continuity of strategy and philosophy; Massive, highly profitable, and geographically diverse oil and gas operations; A large backlog of major projects, which should grow production through 2014; Outstanding financial flexibility, due to substantial free cash flow generation and large cash balances; and Excellent technical talent and a track record of completing large, complex projects on time and on budget. 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 the company's "excellent" business risk profile, based on outstanding competitive positions in all facets of the oil and gas industry, and its "minimal" financial risk profile (as Standard
