On April 12, 2006, Standard&Poor's Ratings Services revised its outlook on Swiss consumer goods group Nestlé S.A. to stable from negative on stronger and sustainable financial ratios at year-end 2005. At the same time, the 'AAA/A-1+' long- and short-term corporate credit ratings were affirmed. The ratings continue to be supported by Nestlé's excellent business risk profile as the largest player worldwide in the stable and cash-generative branded and packaged food industry. Nestlé boasts a broadly diversified business portfolio, with leading market shares worldwide in numerous product categories, including soluble coffee; bottled water; condensed, evaporated, and powdered milk; baby food; ice cream; frozen prepared dishes; culinary preparations; and chocolate. The group also benefits from widely recognized, strong brands; its
