...NEW YORK (S&P Global Ratings) Jan. 19, 2017--S&P Global Ratings said today it assigned its 'A-1' rating to Stanley Black & Decker Inc.'s newly established U.S. $3 billion equivalent Euro commercial paper (CP) program, the same rating as Stanley's existing U.S. $3 billion CP program and consistent with the company's existing 'A-1' short-term rating. The new U.S. $3 billion equivalent Euro CP program is a direct obligation of Stanley Black & Decker Inc. The total amount of commercial paper issued and outstanding under both Stanley's U.S. $3 billion and U.S. $3 billion equivalent Euro CP programs cannot exceed U.S. $3 billion equivalent in aggregate at any given time. Both programs are supported by Stanley's $1.75 billion revolving credit facility due in 2020 and a new $1.25 billion 364-day credit facility. We project Stanley's overall debt levels, including borrowings under its CP programs, will temporarily increase during 2017 to fund normal seasonal working capital needs as well as the...
