The ratings on Richmond, Va.-based Altria Group Inc. reflect Standard&Poor's Ratings Services' view that the company will maintain a "satisfactory" business risk profile (as our criteria define the term), which is based on Altria's continuing superior market positions in the mature U.S. cigarette and the growing smokeless tobacco categories, and our expectation its operating efficiency will remain strong. Our business risk assessment also takes into account Altria's continuing exposure to U.S. tobacco litigation and regulatory risk, and its participation in the highly competitive and declining U.S. cigarette market. The ratings also reflect our view the company will maintain an "intermediate" financial risk profile based on our expectation that the company will generate meaningful free cash flow, preserve strong
