Stanley Black&Decker Inc.'s New Senior Unsecured Notes Assigned 'A' Issue-Level Rating

TORONTO (S&P Global Ratings) Oct. 30, 2018--S&P Global Ratings today assigned its 'A' issue-level rating to New Britain, Conn.-based Stanley Black&Decker Inc.'s senior unsecured notes. We expect the company to use the proceeds from the proposed notes for general corporate purposes, including to repay its debt. The notes will replace a combined $977.5 million of unsecured debt due later in 2018. As such, we do not believe the transaction will alter Stanley's credit metrics or the makeup of its capital structure, thus all of our other ratings on the company remain unchanged. Our 'A/A-1' issuer credit rating and stable outlook on Stanley reflects our view that solid earnings amid good market conditions and the company's moderate use of

...TORONTO (S&P Global Ratings) Oct. 30, 2018--S&P Global Ratings today assigned its 'A' issue-level rating to New Britain, Conn.-based Stanley Black & Decker Inc.'s senior unsecured notes. We expect the company to use the proceeds from the proposed notes for general corporate purposes, including to repay its debt. The notes will replace a combined $977.5 million of unsecured debt due later in 2018. As such, we do not believe the transaction will alter Stanley's credit metrics or the makeup of its capital structure, thus all of our other ratings on the company remain unchanged. Our 'A/A-1' issuer credit rating and stable outlook on Stanley reflects our view that solid earnings amid good market conditions and the company's moderate use of debt will preserve adjusted debt to EBITDA at less than 2x over the next several years, enabling the company to maintain its balance of acquisitions and shareholder returns. Our ratings on Stanley Black & Decker reflect the company's leading positions in hand,...

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