Standard&Poor's Ratings Services derives its 'A' corporate credit rating on Home Depot Inc. from: Our anchor of 'a', based on our assessment of the company's "strong" business risk and "modest" financial risk profiles. The modifiers, which did not have an impact on the corporate credit rating. Good position as the world's largest home improvement retailer; Significant geographic diversity; and Solid track record of performance and growth. Ample free cash flow generation, with majority used for shareholder initiatives; Solid credit protection measures which we believe will remain consistent with a "modest" financial risk profile; and Asset ownership that provides financial flexibility, though we do not expect asset sales to occur. The stable outlook reflects our expectation that Home Depot
