S&P ups Stanley Black & Decker

Standard & Poor's said it revised the outlook on Stanley Black & Decker Inc. to stable from negative and affirmed its A long-term corporate credit rating.

The agency said it raised the short-term credit rating to A-1 from A-2 reflecting the company's strong liquidity due to strong operating cash flow, large cash balances and significant capacity under its revolving credit facilities.

"The outlook revision reflects our expectation that Stanley's credit measures will improve over the next 12 to 24 months because of improved earnings and cash flow resulting from gradually recovering end markets and realization of significant synergies resulting from the Black & Decker acquisition," S&P analyst Thomas Nadramia said in a statement.

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