Strong market position in specialty coffee retailing; Excellent national and international brand recognition; and History of strong cash flow generation. Operates in the competitive and fragmented retail/restaurant industry; and Recent weak operating trends. The ratings are based on Starbucks Corp.'s leading market position and excellent brand recognition in the specialty coffee market in the U.S., as well as a history of strong cash flow generation. Credit metrics that are below average for the rating temper these strengths. Starbucks is a global retailer of specialty coffee, with more than 16,875 locations in the U.S. and internationally as of Dec. 28, 2008. The company is the dominant player in the specialty coffee retailing market, with a national presence in the U.S. and
