The ratings on Beaverton, Ore.-based NIKE Inc. reflect Standard&Poor's Ratings Services' view that the company's business risk profile continues to be "strong," with top market positions in its core global markets, good geographic diversification, and continued solid operating performance despite global economic and foreign exchange headwinds. In addition, we continue to consider NIKE's financial risk profile to be "modest" because of its strong credit metrics and exceptional liquidity position. We believe NIKE's market position will remain strong as it continues to be the world's largest seller of athletic footwear and athletic apparel. The company's market position is more than twice that of its nearest competitor. While intense competition from adidas Group and from smaller domestic and international industry
