Very strong financial profile and conservative financial policies; Top market positions in the athletic footwear and apparel industry; and Broad geographic diversity. Exposure to changing consumer preferences and intense worldwide competition in the athletic footwear and apparel industry; Vulnerable to global economic downturns and foreign currency risk; and Significant influence and substantial control by the company's co-founder and chairman of the board. The ratings on Beaverton, Ore.-based NIKE Inc. reflect Standard&Poor's Ratings Services' view that the company has a strong business risk profile with top market positions in its core global markets, good geographic diversification, and solid operating performance through the recent recession. In addition, we characterize NIKE's financial risk profile as modest because of its strong credit
