Standard&Poor's Ratings Services' ratings on Church&Dwight Co. Inc. reflect our view of its "satisfactory" business risk profile (as our criteria define the term) that incorporates the company's diverse product portfolio within household and personal care sector, including its established consumer brands; its satisfactory financial performance and free cash flow generation; and market share gains partly associated with a sizable mix of value offerings. Factors that partly offset the positive factors include Church&Dwight's participation in the highly competitive household and personal care segment of the consumer products industry, including competition from several larger and more diversified companies; its limited geographic diversity; and its exposure to volatile commodity costs. Church&Dwight's ratings incorporate our expectation
