Moody's: Stanley Black unchanged

Moody's Investors Service said that Stanley Black & Decker, Inc.'s acquisition of Niscayah does not impact its ratings as the company has built a substantial cash balance and will likely finish 2011 with over $500 million of cash even after adjusting for the acquisition.

Niscayah's operations will improve Stanley's scale in key European markets and may present opportunities to realize cost synergies, the agency said.

On June 27, Stanley, Black & Decker announced its offer to acquire Niscayah for $1.2 billion, to be funded with cash and about $160 million of assumed debt, the agency added.

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