Standard&Poor's Ratings Services derives its 'A-' corporate credit rating on Starbucks Corp. from: Our anchor of 'a', based on our "strong" business risk and "modest" financial risk profile assessments for the company. Our "negative" comparable ratings analysis, reflecting the company's lack of product diversification when compared with 'A' rated peers. Leading market position and excellent brand recognition in the intensely competitive specialty coffee market; Continued successful growth in international markets; and Limited product diversity and high exposure to raw coffee costs. Consistent and good cash flow generation; Credit protection measures that are commensurate with a "modest" financial risk profile; and Costly, but complete resolution of arbitration with Kraft Foods Group Inc. The stable rating outlook reflects our belief
