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: 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet giant Google Inc. (GOOGL, GOOG) has launched a new online flight search tool that makes it easy to find out the best flight deal. The tool dubbed "Google Flights" provides a calendar that one can scroll through and see the lowest fare highlighted for each day. One can also use the lowest... Hyperloop Transportation Technologies, a start-up that has adopted Elon Musk's ambitious project of high-speed transportation system, plans to build a Hyperloop test track in California and completed as early as 2016. Hyperloop Test Technologies, a crowd-funded company, plans to take Musk's dream... Colors have set the social media afire after an otherwise innocuous photo of a bodycon dress kept users guessing as to what hues permeate it. Opinions are divided, with some seeing the dress as white and gold, and others as blue and black. The photo was posted on Tumblr by a user called Swiked.
comments powered by Disqus
RELATED NEWS
Trade ESRX now with 
Follow RTT