Moody's: Office Depot unaffected by third quarter

Moody's Investors Service said that Office Depot's third-quarter performance, which reflects some degree of sequential improvement, would have no immediate impact on either the B2 corporate family rating or the negative outlook.

"We will be closely monitoring short-term performance, including the fiscal fourth quarter 2011, and if the positive trend continues, upward rating momentum could result," Moody's senior analyst Charlie O'Shea said in a news release.

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