NEW YORK (Standard&Poor's) Sept. 26, 2001--Standard&Poor's today placed its triple–'B'-plus long-term corporate credit, senior unsecured debt, and bank loan ratings on AutoZone Inc., and its 'A-2' short-term corporate credit and commercial paper ratings on the company on CreditWatch with negative implications. The company's preliminary triple–'B'-plus senior unsecured and preliminary triple–'B' subordinated debt ratings on its Rule 415 shelf registration were also placed on CreditWatch with negative implications. The CreditWatch listing follows the company's announcement that it has increased its authorization for share repurchases by $250 million. As of the end of the fourth quarter of fiscal 2001, AutoZone had repurchased $1.37 billion of its previous $1.45 billion authorization. Standard&Poor's believes this additional authorization represents
