S&P upgrades O'Reilly

Standard & Poor's said it raised O'Reilly Automotive Inc.'s corporate credit rating to BBB from BBB-.

The outlook is stable.

The upgrade reflects a view that O'Reilly should be able to grow profits and maintain credit measures consistent with an intermediate financial risk profile, S&P said, particularly under the generally favorable environment predicted for retail auto parts.

O'Reilly's experienced management team should be able to grow sales and profits by a low single-digit rate, the agency said, in part due to continued operating improvements at the legacy CSK Automotive stores and new store openings.

O'Reilly's profit growth has thus far exceeded expectations, S&P added.

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