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S&P rates O'Reilly, notes BBB-
Standard & Poor's said it assigned a BBB- corporate credit rating to O'Reilly Automotive Inc., along with a BBB- rating to the company's $500 million senior unsecured notes due January 2021.
Pro forma for the proposed transaction, total debt outstanding at the company is about $506 million, S&P said.
The outlook is stable.
The company's profitability will remain satisfactory and credit measures will be solid for the rating category, the agency said, even though meaningful performance improvement at the legacy CSK Automotive Corp. stores may take several years.
The company has a good operation management team and satisfactory business risk profile as the third-largest competitor in the generally stable retail automotive parts industry, the agency said.
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