MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services has revised
its outlook on Advance Auto Parts Inc to negative from stable, reflecting the
company's more aggressive financial policy.
"The outlook reflects more aggressive financial policy during a more
challenging auto part aftermarket environment and pro forma credit metrics that
will be weak for current ratings," S&P credit analyst Stella Kapur said.
S&P said the company's corporate credit rating was affirmed at 'BB+'.
Advance Auto just signed a new 200 mln usd term loan due 2011 and plans to
use proceeds to repurchase shares.
S&P said it has not rated the term loan.
TFN.newsdesk@thomson.com
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