logo
Share SHARE
FONT-SIZE Plus   Neg

Fitch Rates Express Scripts Holdings' IDRs 'BBB'; Assigns Negative Outlook

Fitch Ratings said Tuesday that it has assigned a 'BBB' rating to Express Scripts Holdings' (ESRX) Issuer Default Rating and affirmed the IDRs of Express Scripts Holdings' subsidiaries, Express Scripts, Inc. and Medco Health Solutions, Inc., at 'BBB'.

Fitch also said it has removed the Negative Ratings Watch and assigned a Negative Rating Outlook to all three IDRs.

The rating actions follow ESRX's completion of its $29.1 billion acquisition of Medco Health Solutions, Inc.

Fitch believes the acquisition is strategically sound, fits within ESRX's core competencies, offers a portfolio of complimentary ancillary services, and provides potential for gains in efficiencies of scale.

The Negative Outlook recognizes the increase in leverage that was needed to complete the deal, the rating agency said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
RELATED NEWS
Trade ESRX now with 
Follow RTT