The ratings on Home Depot Inc. reflect the company's leading position in the still-fragmented home improvement industry and its consistently excellent financial profile. Atlanta, Ga.-based Home Depot, which pioneered the full-service, warehouse-style format in the 1970s, has established itself as the clear leader in the more than $400 billion home improvement industry. It is more than twice the size of its nearest competitor, Lowe's Cos. Inc. The company's quality customer service, competitive prices, and broad merchandise selection distinguish it from the competition. Home Depot's annual store growth in recent years has come at the expense of weaker competitors that do not have the company's size and operating efficiencies. However, in response to the weak U.S. economy, the company slowed its
