NY -- Standard&Poor's CreditWire 8/1/97 -- Standard&Poor's today has affirmed its double-'B'-plus corporate credit rating and double-'B'-minus subordinated debt rating of Office Depot Inc. The ratings have been removed from CreditWatch, where they were placed Sept. 5, 1996. At the same time, Standard&Poor's has assigned its double-'B'-plus rating, which is the same as the corporate credit rating, to Office Depot's $300 million credit facilities. Since the facilities are unsecured, the bankers would fare the same as other senior creditors in the event of a default. The rating action reflects Standard&Poor's expectation that the trend of improving operating performance in the first half of the current year will continue and result in better
