S&P rates Stanley notes A-

Standard & Poor’s said it assigned an A- rating to Stanley Black & Decker Inc.’s remarketed $632.5 million subordinated notes due November 2018, originally issued as components of the convertible preferred units issued in November 2010.

The company will not directly receive any proceeds from the remarketing, S&P said.

Some of the proceeds will be used to satisfy the obligations of the holders of the units to purchase the company’s convertible preferred stock as per existing purchase contracts, the agency said.

Any remaining proceeds will be remitted to holders of the units participating in the remarketing, S&P said.

The ratings reflect Stanley’s strong business risk and modest financial risk profile, the agency said.

The company’s business risk profile is strong given its geographic and product diversity, leading positions and track record of consistent profitability, S&P said.

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