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S&P rates Stanley Black & Decker notes BBB+
Standard & Poor's said it assigned a BBB+ rating to Stanley Black & Decker Inc.'s proposed junior subordinated debentures due 2052.
The proceeds will be used for general corporate purposes.
The rating is two notches lower than the A corporate credit rating on Stanley Black & Decker to reflect the proposed junior subordinated debentures' position in the capital structure and to reflect the risk of interest payment deferral, S&P said.
The ratings reflect the company's strong business risk, marked by good geographic and product diversity, the agency said.
The ratings also consider its track record of consistent profitability, S&P said.
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