Moody's lowers Alliance Boots

Moody's Investor Service said it lowered the corporate family rating of Alliance Boots Holdings Ltd. (formerly Alliance Boots plc) to B2 from B1 and the unsecured rating to Caa1 from B2.

The outlook is stable.

This concludes the review that began on July 17, 2007.

The B2 corporate family rating reflects the company's generally solid market positions in both the wholesale and retail industry for pharmaceutical products, and the company's strategies to deal with changes in the industry, according to Moody's.

The rating also considers the company's debt, which is not expected to decline in the near future, the agency said.

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