Diverse product portfolio with high brand equity. Very good global market position. Exposure to volatile commodity and energy costs. Some sensitivity to consumer trade-down under soft economic conditions. Good cash flow generation. Solid credit protection measures. Moderate financial policy. Adequate liquidity. The outlook on Kimberly-Clark Corp. is stable, reflecting Standard&Poor's Ratings Services' forecast for steady profitability because of Kimberly-Clark's diversity and the high brand equity of its product portfolio. We expect the company to use its free operating cash flow for share repurchases and dividends, and that leverage should remain about 2.0x. We could lower our ratings if recent performance improvements reverse, likely from an inability to pass along a substantial rise in raw material costs, or if
