NEW YORK (Standard&Poor's) Jan. 17, 2007--Standard&Poor's Ratings Services said today it revised its outlook on Delray Beach, Fla.-based Office Depot Inc. to positive from stable and affirmed its 'BBB-' corporate credit and other ratings. "This action reflects our increased comfort with the company's financial policy and strategic plans," said Standard&Poor's credit analyst Stella Kapur. "It also reflects our expectation that share repurchase activity will continue to be funded primarily with cash generated from operations, operating performance will continue to moderately improve, and that management is committed to managing credit metrics at appropriate levels." The ratings on Office Depot reflect the company's solid position in the North American office products industry, diverse distribution channels, recent
