NEW YORK (S&P Global Ratings) Nov. 21, 2016--S&P Global Ratings today assigned its 'BBB' issue-level rating to Memphis, Tenn.–based AutoZone Inc.'s proposed $1.6 billion revolving credit facility due 2021. The company also plans to issue a 364-day $400 million revolving credit facility that we will not rate, which in addition to the multi-year revolver will serve as backstop for the company's commercial paper program. The new revolving credit facilities replace the company's existing $1.25 billion revolver due December 2019 and the $500 million 364-day revolver due December 2016. All of our existing ratings on AutoZone, including our 'BBB' corporate credit rating remain unchanged. The 'A-2' short-term rating reflects AutoZone's corporate credit rating and company's good performance trends and solid cash
