Fitch gives Stanley Black notes A-

Fitch Ratings said it gave an A- rating to Stanley Black & Decker Inc.’s (SWK) planned $1 billion of three- and 10-year senior unsecured notes.

The proceeds will give the company added liquidity. Fitch noted the company ended 2021 with about $142 million of cash and roughly $1.25 billion of availability under its $3.5 billion commercial paper program that is backed by its $2.5 billion revolver that matures in September 2026 and its $1 billion 364-day facility maturing in September, which the company can term out for one year, at its option.

Concurrently, the affirmed SWK’s A- issuer default rating and the A- rating on Black & Decker Holdings, LLC’s $150 million of notes due July 1, 2028. The notes were sold in a private placement.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.