NY -- Standard&Poor's CreditWire 8/3/98 -- Standard&Poor's today assigned its 'A-1' rating to Stanley Works' new $400 million 4(2) commercial paper program. Standard&Poor's also assigned its single-'A' bank loan rating to the company's $250 million revolving credit facility and $150 million revolving credit facility due 2001. At the same time, Standard&Poor's affirmed its single-'A' corporate credit, senior secured, and senior unsecured debt ratings and 'A-1' commercial paper and short-term corporate credit ratings on the company. The outlook is stable. The credit agreements include a minimum cash flow to cash expenditures requirement, and pricing is based on debt ratings. The bank loan rating is the same as the corporate credit rating because any
