Office suppliers Staples Inc. and Office Depot announced a definitive agreement to merge, under which Staples will acquire Office Depot in a transaction value at $6.3 billion, funded by $4.3 billion of new debt and $2.1 billion of equity. We are placing all ratings on Office Depot on CreditWatch with positive implications, reflecting our belief that its credit profile will likely improve as a result of its merger into the larger and financially better Staples. On Feb. 4, 2015, Standard&Poor?s Ratings Services placed all its ratings on Boca Raton, Fla.-based office supplies retailer Office Depot Inc., including our ?B-? corporate credit rating, on CreditWatch with positive implications. The CreditWatch placement follows Framingham, Mass.-based Staples Inc.?s announcement that it
