Strong brand names and leading market shares; Good product and geographic diversity; Competitive cost structure; and Strong cash generation and prudent financial policy. Cyclical consumer and industrial demand; 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 our assessment of its strong business risk profile marked by geographic and product diversity; leading positions in security products and industrial, hand, and power tools; and consistent profitability. In addition, its solid track record of cash flow generation and significant debt reduction drive our assessment of its intermediate financial risk profile, despite the assumption of $1.5 billion debt associated with the
