The ratings reflect The Stanley Works Co.'s above-average business profile as a leading producer of a wide array of tools and hardware products for the do-it-yourself, industrial, and construction markets, good diversity, and strong cash flows. However, the company's financial profile could remain weaker than expected because of risks associated with the execution of its restructuring plans, the repositioning of its business portfolio, more aggressive use of debt, and dim prospects for a near-term economic rebound. The New Britain, Conn.-based company's business position is supported by high brand-name recognition, significant global market presence and end-user diversity, including substantial sales to the less cyclical repair-and-remodel markets, although there is some industrial and commercial concentration. Stanley holds either the first-or second-place market
