The ratings on the world's top food and beverage group Switzerland-based Nestlé S.A. and its related entities reflect the group's superior business profile and cash flow generation, as well as its conservative financial profile, which is nevertheless being tested by the group's aggressive acquisition policy. The largest player worldwide in the stable and cash-generative branded and packaged food industry, Nestlé delivered 2006 consolidated sales of Swiss franc (CHF) 98 billion (€61 billion). The group boasts a broadly diversified business portfolio, with leading market shares worldwide in numerous product categories, including soluble coffee; bottled water; condensed, evaporated, and powdered milk; baby food; ice cream; frozen prepared dishes; culinary preparations; and chocolate. The group also benefits from widely recognized, strong brands; its
