One of the world's largest and most diversified operators in the consumer products sector. Strong and diversified brands. Broad geographic reach, including a significant presence in fast-growing emerging markets. Strong track record of innovation. Exposure to volatile input costs and to price-competitive Western European markets. Strong and resilient cash flows. Metrics in line with our intermediate financial risk, namely funds from operations to debt of 30%-45%. Moderate financial policy. We apply an 'a+' anchor to Unilever, the higher of two possible outcomes. The 'a+' anchor is supported by our view of Unilever's business risk profile at the mid-to-upper end of our "excellent" category. The stable outlook on diversified consumer goods group Unilever PLC and Unilever N.V. (together, Unilever) reflects Standard
