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 ratings on Stanley Black&Decker Inc. reflects our assessment of its strong business risk profile marked by good 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, prudent use of leverage and significant debt reduction drive our assessment of its intermediate financial risk profile, despite increased debt levels associated with the 2010
