Moody's: AutoZone view positive

Moody's Investors Service said it changed the outlook for AutoZone, Inc. to positive from stable and assigned a provisional Baa2 rating to the company's multi-seniority shelf registration.

The Baa2 senior unsecured and Prime-2 commercial paper ratings were affirmed.

"The change in outlook to positive recognizes AutoZone's steady operating performance as evidenced by its segment-leading operating margin that continues to increase and is fast approaching 20%, with the company's private Duralast brand a key factor driving this margin," Moody's senior analyst Charlie O'Shea said in a news release.

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