NEW YORK (Standard&Poor's) May 1, 2015--Standard&Poor's Ratings Services noted today PetSmart Inc.'s announcement that it is seeking to reprice its existing $4.3 billion senior secured term loan B due 2022 issued in connection to the leverage buyout of the company. The proposed repricing transaction will allow the company to modestly lower its interest expense but has no meaningful impact on its credit ratios or our current assessment of the company's financial risk profile. In addition, PetSmart recently announced changes to its senior management team, including an appointment of a new President and CEO and planned departure of its CFO. Standard&Poor's will continue to monitor the company's strategies and operating performance under the new leadership
