Fitch: Stanley Black & Decker view to negative

Fitch Ratings said it affirmed Stanley Black & Decker, Inc.'s issuer default rating at A-.

The outlook also was revised to negative from stable.

The agency also affirmed its bank credit facilities at A-, senior unsecured notes at A-, junior subordinated notes at BBB, junior subordinated debentures at BBB, short-term issuer default rating at F2 and commercial-paper rating at F2.

Also affirmed includes Black & Decker Corp.'s issuer default rating at A- and senior unsecured notes at A-, along with Black & Decker Holdings LLC's issuer default rating at A- and senior unsecured notes at A-.

The ratings reflect a geographically well-balanced company with leading market positions and strong brand recognition in its various business segments, the agency said.

The ratings also incorporate the cyclicality of certain of the company's end markets and integration risk associated with its aggressive acquisition strategy, Fitch said, although overall risk is somewhat mitigated by merger integration expertise and considerable liquidity.

Fitch said it is somewhat concerned that the company continues to do acquisitions while it is still integrating large acquisitions.

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