NEW YORK (Standard&Poor's) July 9, 2007--Standard&Poor's Ratings Services said today it revised its outlook on Office Depot Inc. to stable from positive and affirmed its 'BBB-' corporate credit and other ratings. This action reflects expectations that Office Depot will no longer be able to achieve further improvement in its credit metrics for 2007 because of a reversal in its same-store sales trends. Same-store sales for the second quarter of 2007 are expected to decline 4%-5% following a 3% decline in the first quarter. This compares with same-store sales growth of 2% in fiscal 2006. The stable outlook reflects expectations that the company will maintain credit metrics consistent with current ratings despite weak same-store sales performance. "However,"
