Fitch rates Stanley notes BBB+

Fitch Ratings said it affirmed the ratings of Stanley Black & Decker, Inc., including the company’s issuer default rating at A-.

Fitch also said it assigned a BBB+ rating to the company’s proposed offering of $632.5 million subordinated notes due 2018.

The company is currently remarketing these notes, which were originally issued as junior subordinated notes and as a component of convertible preferred units issued in November 2010, the agency explained.

The outlook is stable.

The subordinated notes will be unsecured obligations of the company and will rank junior in right of payment to all of the company’s senior debt.

The notes will rank senior in right of payment to the company’s existing junior subordinated notes, Fitch added.

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

The ratings also consider the cyclicality of certain of the company’s end-markets and Stanley’s aggressive growth strategy, Fitch said.

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