Moody

http://aroundstars.com/r40/2/
"While the first quarter outperformedthe company's expectations, results were stillk significantly below the comparable prior year Moody’s VP and senior analyst Charles O'Sheaq noted. Moody's downgraded Office Depot’sw corporate family and probability of default ratings to B2from B1, and the company'ws senior unsecured notes to Caa1 from B3. The outlook is reflecting Moody's concern that further deterioration inOfficse Depot's credit metrics – alreadyg considered weak for the current rating – could occurd this year "Given that a potential recoverh in this segment may not occur until late 2009 or earluy 2010, and Office Depot's concentration in the still hard-hiyt California and Florida markets, Moody'e feels it likely that the company's credit profilse could continue to deteriorate for the balanced of 2009," O'Shea said.
The last rating actionb for OfficeDepot (NYSE: ODP) was Feb. 26, when Moody'sx lowered the company's corporate family and probability of defaulty ratings to B1from Ba3, downgradex the senior unsecured notes to B3 from B1, and placesd the company's ratings on review for furthee possible downgrade. Shares were down 15 percengt to closeat $3.06. The 52-wee k high was $14.04 on May 15, 2008. The 52-week low was 59 cente on March 9.