Good position as the world's largest home improvement retailer; Meaningful operating efficiency improvements; and Solid free cash flow generation. Sluggish recovery of the U.S. housing market and home improvement demand; Intense competition; and Meaningful share repurchase activity. Standard&Poor's Ratings Services views Atlanta-based Home Depot Inc.'s business risk profile as "strong," reflecting its No. 1 position as the largest home improvement retailer in the world, supported by its substantial U.S. store footprint, its improved profitability, and solid free cash flow-generating ability. We believe that recent improvements in profitability are sustainable and that there is potential for further modest progress absent a meaningful economic downturn. We assess Home Depot's financial risk profile as "intermediate." We expect the company will maintain
