Standard & Poor's Ratings Services confirmed its investment grade rating on Stanley Black & Decker after the company was created Friday through the merger of Stanley Works and Black & Decker. Stanley Works and Black & Decker both trade on the “New York Stock Exchange” under the stock symbols “SWK”. For the Latest information regarding “SWK” or “BDK”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Standard & Poor's Ratings Services affirmed its investment grade rating on Stanley Black & Decker after the company was created Friday through the merger of Stanley Works (NYSE:SWK) and Black & Decker (NYSE:BDK). The agency maintained its "A" corporate credit rating for the newly combined company and issued a negative outlook.
"The affirmation reflects our belief that the acquisition somewhat enhances Stanley's already strong business risk profile, despite the added cyclicality and retail exposure of the power tools segment, by providing Stanley with a leading position in the power tool market, geographic diversity and additional low-cost manufacturing capabilities in China," S&P said in a statement.
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