S&P lifts Office Depot view to stable

Standard & Poor's said it revised Office Depot Inc.'s outlook to stable from negative and affirmed its B corporate credit rating and its $400 million 6¼% senior unsecured notes due 2013 at B- with a recovery rating of 5.

The outlook revision reflects better-than-expected profitability on meaningful cost reductions, credit measure improvement and adequate liquidity despite difficult economic conditions, the agency said.

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