NEW YORK (Standard&Poor's) May 12, 2010--Standard&Poor's Ratings Services said today that it assigned its 'A-' issue-level rating to Stanley Black&Decker Inc.'s $320 million floating rate convertible senior notes due May 17, 2012. The rating is one notch lower than our 'A' corporate credit rating Stanley Black&Decker to reflect that the convertible notes are not guaranteed by any of Stanley's subsidiaries. As a result, the convertible debt is structurally subordinated to all other debt and other liabilities (including guarantees) of Stanley Black&Decker's subsidiaries. These convertible notes were originally issued as components of the floating rate equity units issued in March 2007. Stanley will not directly receive any proceeds from these notes.
