NY -- Standard&Poor's CreditWire 9/5/96 -- Standard&Poor's today has placed the ratings of Staples Inc. and Office Depot Inc. on CreditWatch with positive implications (see table below). This action follows the announced purchase of Office Depot by Staples for $3.5 billion in stock, creating the largest office supply retailer, to be known as Staples The Office Depot. The credit profile of each company stands to benefit from a significantly better business position for the combined entity. The combination creates a 1,064 retail store network, with a substantially improved business position resulting from significant cost savings over the next few years, particularly with its increased purchasing power. The combined entity, with $10 billion in sales, will have
