One of the world's most diversified companies in the stable and cash-generative branded food and home and personal care industries. Leading positions in numerous markets, with an extensive portfolio of products underpinned by leading brands. Moderate financial policy. Relatively high exposure to mature, price-competitive European markets and low-growth product categories. Relatively high overhead costs due to broad product and geographic diversity. Competitive factors, necessitating constant pace of investment into innovative products and faster-growing markets. The ratings on the Unilever group reflect Standard&Poor's Ratings Services' view of its superior business risk profile as one of the world's largest and most diversified operators in the consumer products sector, as well as its moderate financial policy. These factors are countered by
