The merger between Stanley Works and Black&Decker Corp., with the combined entity now known as Stanley Black&Decker Inc. was completed on March 12, 2010. The transaction enhances Stanley's business risk profile by providing Stanley with a leading position in power tools and expanding its geographic diversity. We have affirmed our 'A' corporate credit rating on Stanley and lowered its commercial paper rating to 'A-2' from 'A-1'. We removed the ratings from CreditWatch negative. The outlook is negative. NEW YORK (Standard&Poor's) March 15, 2010--Standard&Poor's Ratings Services affirmed its 'A' corporate credit and senior unsecured debt ratings on Stanley Black&Decker Inc. (Stanley; formerly Stanley Works) following Stanley's recent announcement that it had
