Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade ESRX now with 

Fitch Ratings said Tuesday that it has assigned a 'BBB' rating to Express Scripts Holdings' (ESRX: Quote) 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.

Click here to receive FREE breaking news email alerts for Express Scripts Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.