NEW YORK (Standard&Poor's CreditWire) June 20, 2001--Standard&Poor's today assigned its double–'B'-plus rating to Office Depot Inc.'s planned $250 million senior subordinated notes issue due 2008. The notes will be issued under Rule 144A with registration rights. At the same time, Standard&Poor's affirmed its triple–'B'-minus corporate credit and senior unsecured debt ratings as well as its double-'B'-plus subordinated debt rating on Office Depot. The outlook is stable. The ratings on Office Depot reflect the company's meaningful position in the North American office products industry, strong balance sheet, and diversity of its distribution channels. These factors are mitigated, somewhat, by recent operating weakness and the competitive nature of the office supply industry. Office Depot is a
