(Editor's Note: In the article published May 23, 2003, the amount of AutoZone Inc.'s commercial paper program was misstated. The correct amount is $950 million. A corrected version follows.) Standard&Poor's Ratings Services revised its outlook on AutoZone Inc. to stable from positive. At the same time, Standard&Poor's affirmed its 'BBB+' corporate credit rating on the company. Approximately $1.3 billion of debt is affected by this action. The revised outlook is based on Standard&Poor's belief that AutoZone's share repurchase activity will be more aggressive than previously anticipated resulting in diminished prospects for better credit ratios and a higher rating. The ratings reflect the company's leading position in the stable but highly competitive retail automobile parts
