The ratings on Stanley Black&Decker Inc. reflect our assessment of its strong business risk profile marked by good 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, prudent use of leverage and significant debt reduction drive our assessment of its intermediate financial risk profile, despite increased debt levels associated with the 2010 acquisition of Black&Decker Corp. The rating incorporates our expectation that Stanley's credit measures will continue to strengthen over the next 12 to 24 months because of improved earnings and cash flow resulting from the full realization of significant synergies from recent acquisitions further international market
