Moody's: Office Depot unchanged

Moody's Investors Service said it said that Office Depot, Inc.'s new $350 million convertible preferred stock issuance would have no immediate impact on either the B2 corporate family rating or the negative outlook.

The most recent rating action for Office Depot was the May 12 downgrade of the corporate family and probability of default ratings to B2 and the downgrade of the senior unsecured notes to Caa1, the agency said.

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