Moody's gives Stanley Black notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Stanley Black & Decker, Inc.'s upcoming offering of senior unsecured notes in two tranches. Stanley's other ratings and stable outlook remain unchanged.

The proceeds will be used to term out a similar amount of Stanley's commercial paper.

“Moody's views the proposed transaction as credit positive since liquidity is improving. Stanley is partially terming out the commercial paper that was used to facilitate its two acquisitions that were completed in December 2021 in a leverage-neutral transaction. Moody's estimates that leverage will remain below 2.5x at year end 2022,” the agency said in a press release.

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