S&P shifts Stanley Black & Decker view to negative

S&P said it revised the outlook for Stanley Black & Decker Inc. to negative from stable.

“The negative outlook indicates that our downside scenario is materializing quickly. Specifically, we anticipate that Stanley's debt-funded transactions and subsequent profit disruptions may cause its adjusted debt to EBITDA to remain above 2x for a third consecutive year absent corporate actions to reduce its leverage. We estimate that the company's leverage may even rise above 2.5x in 2020 given the rapidly deteriorating economic outlook,” said S&P in a press release.

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