Strong brand names and leading market shares; Good product and geographic diversity; Competitive cost structure; and Strong cash generation and prudent financial policy. Highly cyclical consumer and industrial demand; Mature hand-tool markets that experience competitive price pressures; Volatile raw material and energy cost pressures; and Moderate risks associated with repositioning and expanding the company's business portfolio. The 'A' corporate credit rating on Stanley Black&Decker Inc. reflects its strong brands, geographic and product diversity, and leading positions in security products and industrial, hand, and power tools, that results in what Standard&Poor's Ratings Services considers its "strong" business risk profile. This, combined with a solid track record of cash flow generation and significant debt reduction, offsets what we
