Leading U.S. market position and excellent brand recognition in the intensely competitive and fragmented specialty coffee market; Continued successful growth in international markets particularly in China; Limited product diversity, though food sales are growing; and Good operating performance that we expect to continue. Consistent and robust cash flow generation based on earnings performance; Expectations for modest shareholder initiatives, funded with excess cash and some debt; and Strong credit protection measures. S&P Global Ratings' stable outlook on Starbucks Corp. envisions a continuation of sound business execution of prudent store growth and product diversification initiatives. In our forecast assumptions, we see these factors contributing to good operating performance and cash flow growth, allowing the company to preserve its relatively low risk capital
