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S&P affirms CVS Health
Standard & Poor's said it affirmed its BBB+/A-2 long- and short-term corporate credit ratings on CVS Health Corp. and all issue-level ratings on CVS' debt.
The outlook is stable.
S&P said the affirmation follows the company's announcement that it reached a definitive agreement to purchase Omnicare Inc. (BB/stable) in a transaction valued at about $12.7 billion, including the assumption of about $2.3 billion of Omnicare's existing debt. The transaction, which is subject to regulatory approval, is expected to close near the end of 2015.
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