The ratings on the Unilever group of companies reflect its superior business profile as one of the world's largest and most diversified combined companies in the consumer products sector, as well as the stability of its portfolio of businesses. These factors are balanced by the group's moderate financial profile. U.K.-based Unilever PLC and Netherlands-based Unilever N.V. are the joint parent companies of the Unilever group companies. The group is analyzed on a consolidated basis. In 2003, Unilever had group sales of Ç42.7 billion ($52.9 billion). Foods accounted for 58% of the group's turnover and operating profit (before restructuring, exceptionals, and amortization), with the group leading global markets in various categories including ice cream, tea, sauces, spreads, and frozen foods. The
