Strong brand names and leading market shares; Good product and geographic diversity; Competitive cost structure; Product mix shifting to faster-growing segments; Substantial sales to repair/remodel markets; and Strong cash generation. Cyclical consumer and industrial demand; Mature hand tool markets; Systemic tool price declines; Raw material cost pressures; and Moderate risks associated with repositioning of business portfolio. The ratings reflect New Britain, Conn.-based The Stanley Works Co.'s strong market positions in a wide array of tools and hardware products for the do-it-yourself, industrial, and construction markets; good geographic diversity; improved cost structure; and strong cash flows. These factors more than offset cyclical demand, the price erosion that is endemic in the global tools industry, and moderate business portfolio transformation risks. Stanley's
