NEW YORK (Standard&Poor's) Dec. 14, 2007--Standard&Poor's Ratings Services said today it placed its 'BBB-' corporate credit and all other ratings on Delray Beach, Fla.-based Office Depot Inc. on CreditWatch with negative implications. This action follows the company's Dec. 13, 2007, announcement that it projects continued erosion of sales and earnings in the fourth quarter of 2007 and that difficult housing-related economic conditions in certain of its key markets, particularly Florida and California, now appear to be spreading to other U.S. retail markets. "We plan to resolve the CreditWatch listing in early 2008, after the company has reported its fourth-quarter results," said Standard&Poor's credit analyst Stella Kapur, "and following further conversations with management focusing on
