The ratings on St. Paul, Minn.-based Ecolab Inc. reflect a strong business profile and modest financial risk, including a conservative financial policy. The company is the global leader in the institutional and industrial commercial cleaning, food safety, infection control, and sanitizing business, a service-intensive segment of the chemical sector. Ecolab serves a wide range of markets, including food and beverage, hospitality, and health care. Ecolab has a large direct sales force and distribution partners around the world, affording the company a considerable competitive advantage. Given its significant market penetration, Ecolab uses internal initiatives and midsize acquisitions to provide complementary services to its customers and to expand its presence. Management fortifies the company's competitive position by extending its proprietary technology and
