The 'A' corporate credit rating on Stanley Black&Decker Inc. reflects our assessment of its strong business risk profile marked by geographic and product diversity; leading positions in security products and industrial, hand, and power tools; and consistent profitability. In addition, its solid track record of cash flow generation and significant debt reduction drive our assessment of its intermediate financial risk profile, despite the assumption of $1.5 billion debt associated with the 2010 acquisition of Black&Decker Corp. The rating incorporates our expectation that Stanley's credit measures will strengthen over the next 12 to 24 months because of improved earnings and cash flow resulting from slowly recovering end markets, further international market penetration, and full realization of significant
