Moody's: Office Depot notes B2

Moody's Investors Service said it affirmed the B2 corporate family and probability of default ratings for Office Depot, Inc. and changed the outlook to stable from negative.

Moody's assigned a B2 rating to the company's proposed $250 million senior secured notes and affirmed the SGL-1 speculative grade liquidity rating.

Office Depot's B2 rating considers its credit metrics, which remain weak, and its solid, though challenged, number two position in the office supplies segment, the agency said.

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