Portfolio of well-recognized, market-leading household and personal care brands. Good mix of value and premium products. Strong and consistent profitability. Successful acquisition track record. Some products that compete with brands owned by large global consumer product companies with significant financial resources. Limited geographical diversity outside of North America and some concentration within the laundry segment. Some exposure to commodity cost volatility. Historically very conservative financial policy, though Standard&Poor's Ratings Services believes there is moderate large scale, debt-financed acquisition risk. Solid free cash flow generation. Strong liquidity. The stable rating outlook reflects our opinion that over the next two years Church&Dwight Co. Inc.'s (C&D) performance will remain satisfactory and its credit measures solid, despite our forecast for
