Standard&Poor's Ratings Services derives its 'AA-' rating on Colgate-Palmolive Co. from: Our anchor of 'aa', based on our "excellent" business risk and "modest" financial risk profile assessments for the company. Modifiers, which had a negative one notch impact on the rating outcome. Very high brand equity. Strong global market share positions. Negligible private label competition in oral care. Majority of its products are resilient to economic cycles, which results in consistent profitability. Good product innovation. Substantial geographic diversification. Sizable portfolio of consumer products, notwithstanding concentration in low volatility oral care segment. Solid and steady cash flow generation. Commitment to maintain current strong credit protection measures. The outlook is stable. Weexpect Colgate-Palmolive Co.'s financial policy will remain conservative, and
