NY -- Standard&Poor's CreditWire 10/30/97 -- Standard&Poor's today assigned its single-'B'-minus rating to PetsMart Inc.'s $175 million convertible subordinated notes due 2004 to be offered under Rule 144A. Standard&Poor's also assigned its single-'B'-plus corporate credit and bank loan ratings to the company's $125 million revolving credit facility expiring April 2002. Proceeds will be used for the repayment of all bank debt outstanding under the credit facility and for investment in new and existing stores, restructuring and business integration costs, corporate investment, and working capital. The outlook is stable. Ratings reflect the company's position as the largest operator of superstores within the stable, but competitive pet food, supplies, and services market, operating difficulties associated with
