Standard&Poor's Ratings Services' 'A+' rating on Unilever PLC and Unilever N.V. (together, Unilever) is derived from: Our 'a+' anchor, based on our assessments of the group's "excellent" business risk profile and "intermediate" financial risk profile. The modifiers have no impact on the rating outcome. One of the world's largest and most diversified operators in the consumer products sector. Strong and diversified brands. Broad geographic diversification, including 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 flow generation. Moderate financial policy. The stable outlook on Unilever reflects our view that the group will likely sustain a financial risk profile comfortably within the
