...- Stanley Black & Decker's lower debt and stronger earnings are improving adjusted debt leverage and expanding financial capacity for potential acquisitions and shareholder returns. - Large cash balances, the redemption of debt-like preferred shares, and robust free cash flow should enable the company to remain below our key 2x debt to EBITDA threshold, even as it considers completing the acquisition of MTD Products Inc. later in 2021. - Buoyant demand and a year of operating cost optimization support good near-term profitability in the face of rapidly escalating input costs, particularly for metals and resins in the tools and industrial segments. - We revised our outlook on the company to stable from negative, taking into account good credit measures and good credit buffer for the potential acquisition. At the same time, we affirmed all ratings, including our 'A' long-term issuer credit rating on the company. - The stable outlook incorporates our expectation that adjusted debt to EBITDA...
