Standard&Poor's Ratings Services' ratings on St. Paul, Minn.-based Ecolab Inc. reflect the company's 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, which give the company a considerable competitive advantage. The company's operations are well-diversified geographically; revenues outside the U.S. constitute about 45% of total revenues. This meaningful international presence provides the company with growth opportunities. Given its significant market
