The ratings on New York City-based Colgate-Palmolive Co. reflect Standard&Poor's Ratings Services' view that the company has an "excellent" business profile (as our criteria define the term) based on its diversified portfolio of consumer brands, strong market share positions, resiliency of its oral care products to economic cycles, and its extensive international presence. We also consider the company's financial risk profile to be "modest," based on the company's solid cash flow generating ability and strong credit protection measures as a result of its conservative financial policy. We believe Colgate-Palmolive's operating performance will remain consistently good over the next two years. Specific forecast assumptions include: Mid-single-digit annual overall sales growth, split between price realization and volume growth. We expect
