NEW YORK (Standard&Poor's) Sept. 19, 2005--Standard&Poor's Ratings Services said today that it affirmed its ratings on The Stanley Works Co. (A/Stable/A-1) after Stanley's announcement that it will purchase privately held National Manufacturing Co. for $170 million. National is a North American-focused manufacturer of construction and general hardware that is primarily sold to lumber yards and construction cooperatives. This transaction and the purchase of Facom Tools from Fimilac S.A. (unrated) for €410 million ($494 million), which was announced in July, are expected to be financed with cash on hand and debt. The outlook on New Britain, Conn.-based Stanley is stable. Stanley has $792 million of debt outstanding. Stanley holds the first- or second-place market-share position in most
