The ratings on Stanley Black&Decker Inc. reflect our assessment of the company's "strong" business risk marked by geographic and product diversity, which has increased through acquisitions; leading positions in security products; hand, power, and industrial tools; and a track record of consistent profitability. In addition, Stanley has demonstrated cash flow generation, prudent use of debt in acquisitions, and a commitment to maintaining leverage measures consistent with our view of "intermediate" financial risk. Stanley Black&Decker is a diversified global manufacturer and provider of hand, power, and industrial hardware and home improvement products and (engineered) fastening systems. The company has grown consistently through acquisitions to diversify product mix away from consumer tools and to increase its presence in
