NEW YORK (Standard&Poor's) April 18, 2016--Standard&Poor's Ratings Services said today it assigned its 'BBB' issue-level rating to auto parts retailer, AutoZone Inc.'s proposed $650 million of senior unsecured notes. AutoZone plans to issue two tranches of senior unsecured notes that mature in 2019 and 2026. The company plans to use the proceeds for general corporate purposes, which includes repaying existing debt, including commercial paper, for working capital and capital expenditures needs, and share repurchases. The ratings on the Memphis-based AutoZone reflects the company's leading position in the retail auto parts market in the U.S., with consistent sales and profit growth both from positive same-store sales and store growth. We expect both trends to continue over the
