Portfolio of well-recognized household and personal care brands, mostly with number 1 or 2 market share, and a good mix of value and premium products; Has generally outperformed peers in a tough operating environment; Successful acquisition integration track record; Some margin pressure from rising commodity and freight costs; Competes in some categories against large global consumer product companies with greater financial resources and significant brand equity; and Meaningful concentration within the highly competitive laundry segment. Generally conservative financial policy though leverage is modestly elevated from historical levels because of an acquisition; Moderate risk that company could transact a large scale, debt-financed acquisition that could lead to a meaningful credit metric deterioration; Solid free cash flow generation; and Strong liquidity. S&P
