Staples, Inc. -- Moody's assigns (P)Baa2 rating to Staples shelf; rates proposed new $1 billion notes Baa2

New York, January 07, 2013 -- Moody's Investors Service today assigned a (P)Baa2 rating to the senior unsecured shelf of Staples, Inc. ("Staples") and also assigned Baa2 ratings to the proposed up to $1 billion in senior unsecured notes that will be issued under this shelf. "The $1 billion draw will be utilized to fund a tender for up to $750 million in senior unsecured notes maturing in 2014, with fairly significant interest savings, and as such will improve liquidity, which in Moody's view outweighs the minor uptick in debt/EBITDA that will result," stated Moody's Senior Analyst Charlie O'Shea.

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