Strong brand names and leading market shares in consumer, commercial, and industrial tools and strong global fastener and security products/services businesses Good product/market diversity spread among three distinct uncorrelated business segments and good geographic diversity, with an increasing presence in high-growth markets Subject to cyclical consumer and industrial demand Consistent profitability, despite intense competition and raw material cost pressures Solid track record of cash flow generation Prudent financial policy Exceptional liquidity, with ample credit availability, long dated maturities, and cash balances Good record of integrating acquisitions Standard&Poor's Ratings Services' rating outlook on Stanley is stable. We expect that the company will continue to improve its EBITDA and earnings in 2015 and beyond due to recovering construction and industrial
