Fitch affirms AutoZone

Fitch Ratings said it affirmed AutoZone, Inc.'s long-term issuer default rating at BBB, senior unsecured debt rating at BBB, bank credit facility rating at BBB, short-term issuer default rating at F2 and commercial paper rating at F2.

The outlook is stable.

The affirmation reflects AutoZone's leading position in the retail auto parts and accessories aftermarket, Fitch said, and its solid operating performance and credit metrics.

The ratings also consider the company's aggressive share repurchase posture, the agency said.

AutoZone has among the strongest operating margins in the retail sector, Fitch added.

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