Good geographic and product diversity; Strong free cash flow generation; Improving margins after several years of decline; and Leading market positions with well-established brands. Commodity cost and foreign currency risk; Highly competitive end markets; and Sensitivity to consumers trading down in certain categories due to the weak economic conditions. The ratings on Dallas-based Kimberly-Clark Corp., a global manufacturer and marketer of household and personal care products, reflects its strong business profile, solid cash flow generation, and our expectation that the company will maintain a modest financial risk profile. The company has leading market shares in a number of core categories, including personal care (Huggies, Pull-Ups, Depend), consumer tissue (Kleenex, Scott, Cottonelle), and business-to-business products (Kimberly-Clark, KleenGuard, Safeskin, Ballard). The diversity
