date:Apr 23, 2014
incorporate its leading market shares, strong brand equities in breakfast foods and snacks, as well as ample liquidity, Fitch said. The company has good geographic diversification, with nearly 40% of its sales generated outside the United States. However, with 85% of the company's sales in North America and Europe, Kelloggs growth has been hampered by significant exposure to slow growing mature markets and modest exposure to faster growing emerging markets. U.S. Morning Foods and U.S. Snacks we