Fitch rates Stanley Black & Decker revolver A-

Fitch Ratings said it assigned an F2 rating to Stanley Black & Decker, Inc.'s $3 billion euro-denominated commercial-paper program.

The agency also said it assigned an A- rating to the company’s $1.25 billion 364-day revolving credit facility.

The outstanding amount on the $3 billion program, when combined with the principal outstanding amount under the company's existing program, will not exceed $3 billion at any time, Fitch said.

The programs are backed by the company's $1.75 billion revolving credit facility due in 2020 and the $1.25 billion 364-day revolving credit facility, the agency explained.

The ratings reflect the company’s geographically well-balanced company with leading market positions and strong brand recognition in its various business segments, consistent free cash flow generation and solid liquidity, Fitch said.

The ratings also consider the cyclicality of certain of the company's end-markets and the its aggressive growth strategy, the agency said.

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