Bulletin: Stanley Black&Decker Inc. 'A' Issuer Credit Rating Unchanged On Acquisition Plan And Share Repurchase; Outlook Stable

TORONTO (S&P Global Ratings) Aug. 7, 2018--S&P Global Ratings said today that its issuer credit and other ratings on consumer, professional and industrial tool maker Stanley Black&Decker Inc. (Stanley) (A/Stable/A-1) are unchanged following the company's announcement that it plans to acquire International Equipment Solutions Attachments Group LLC (IES Attachments) for $690 million in cash. The company also announced that it and has completed $500 million is share repurchases to date in 2018. IES Attachments is a manufacturer of systems, accessories, buckets, shears, and other manipulative equipment designed to attach to mobile construction equipment. The company serves both heavy original equipment manufacturers (OEMs) and aftermarkets in over 60 countries. The acquisition will diversify Stanley's presence in industrial and infrastructure

...TORONTO (S&P Global Ratings) Aug. 7, 2018--S&P Global Ratings said today that its issuer credit and other ratings on consumer, professional and industrial tool maker Stanley Black & Decker Inc. (Stanley) (A/Stable/A-1) are unchanged following the company's announcement that it plans to acquire International Equipment Solutions Attachments Group LLC (IES Attachments) for $690 million in cash. The company also announced that it and has completed $500 million is share repurchases to date in 2018. IES Attachments is a manufacturer of systems, accessories, buckets, shears, and other manipulative equipment designed to attach to mobile construction equipment. The company serves both heavy original equipment manufacturers (OEMs) and aftermarkets in over 60 countries. The acquisition will diversify Stanley's presence in industrial and infrastructure tool markets, and will add $400 million in annual revenue. Stanley has indicated that the acquisition will be modestly accretive to earnings in 2019....

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