NEW YORK (Standard&Poor's) Dec. 5, 2007--Standard&Poor's Ratings Services said today it revised the outlook for AutoZone Inc. to negative from stable. This action reflects the company's weaker credit metrics and more aggressive financial policy, in conjunction with our prior revision in the company's business risk profile to Satisfactory from Strong. At the same time, we affirmed Memphis, Tenn.-based AutoZone's 'BBB+' corporate credit rating, 'A-2' CP, and other ratings. "The negative outlook reflects a more aggressive financial policy during a more challenging auto part aftermarket environment," said Standard&Poor's credit analyst Stella Kapur, "which has resulted in weak credit metrics for the company's business profile and current rating." We could lower ratings in the near term
