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 that experience systemic price declines; Commodity and energy cost pressures; and Moderate risks associated with repositioning the company's business portfolio. The ratings on Stanley Works Co. reflect strong market positions in a wide array of tools and hardware products for the do-it-yourself, industrial, professional, and construction markets; good geographic diversity; competitive cost structure; and strong cash flows. These factors more than offset cyclical demand, price erosion in the global tools industry, and moderate acquisition risks. The New Britain, Conn.-based company's major
