The ratings on Dallas-based Kimberly-Clark Corp., a global manufacturer and marketer of household and personal care products, reflects its strong business profile, solid cash flow generation, and our expectation that the company will maintain a modest financial risk profile. The company has leading market shares in a number of core categories, including personal care (Huggies, Pull-Ups, Depend), consumer tissue (Kleenex, Scott, Cottonelle), and business-to-business products (Kimberly-Clark, KleenGuard, Safeskin, Ballard). The diversity and strength of its product portfolio should provide Kimberly-Clark with a fairly consistent stream of earnings and cash flow. However, the company's exposure to volatility commodity and energy costs over the last several years is an offsetting factor. Revenues declined 8% in the second quarter of fiscal 2009 due
