NEW YORK (AP) - Standard & Poor's Ratings Services on Wednesday revised its
outlooks for Advance Auto Parts Inc. and AutoZone Inc. to "negative" from
"stable," citing their weakening credit metrics.
S&P said both companies have taken on more aggressive financial policies in
an increasingly tough environment for aftermarket auto parts.
S&P also affirmed Advance Auto's noninvestment-grade "BB+" corporate credit
rating, along with AutoZone's investment-grade "BBB+" corporate credit and other
ratings.
In midday trading, Advance Auto shares rose $1.15, or 3.1 percent, to
$38.12, while AutoZone shares fell $3.31, or 2.6 percent, to $125.39.
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