Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research CVS Health Corp.

CVS Corp. Long-Term Ratings Remain On Watch Pos Following Rival Offer for Caremark

Published Dec 18, 2006

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About This Report

Abstract:

NEW YORK (Standard&Poor's) Dec. 18, 2006--Standard&Poor's Ratings Services said today its long-term ratings on Woonsocket, R.I.-based CVS Corp., including the 'BBB+' corporate credit ratings, remain on CreditWatch with positive implications. The ratings were initially placed on CreditWatch Nov. 2, 2006, when CVS announced a definitive agreement to merge with Caremark Rx Inc. (BBB/Stable/--). The 'A-2' short-term rating on CVS is not on CreditWatch. This CreditWatch update follows Express Scripts Inc.'s (BBB/Watch Negative/--) unsolicited offer of $26 billion to acquire Caremark Rx. The Express Scripts' bid is a 15% premium over the CVS offer. "While the potential merger of CVS and Caremark would be a positive for CVS, it could be less positive if CVS changes the

Report Type:

Ratings Action

Ticker

CVS

Issuer

CVS Health Corp.

GICS

Health Care Services (35102015)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

PDF

CVS Corp. Ratings Remain On Watch Pos On Revised Merger Terms – 2007/01/17 – US$ 150.00

Research Update: CVS Corp. Ratings Remain On CreditWatch Positive Following Merger Revisions – 2007/01/17 – US$ 225.00

CVS Corp. Watch Implications Revised To Developing With New Caremark Merger Structure Proposal – 2007/02/13 – US$ 150.00

Research Update: CVS Corp. Watch Implications Revised To Developing On Caremark Merger Agreement Proposal – 2007/02/13 – US$ 225.00

CVS Watch Implications Revised To Negative From Developing After Change In Caremark Merger – 2007/03/08 – US$ 150.00

Research Update: CVS Corp. Ratings Remain On Watch Pos Following Competing Offer For Caremark – 2006/12/18 – US$ 225.00

Summary: CVS Corp. – 2006/12/01 – US$ 225.00

CVS Corp. 'BBB+' Ratings Placed On CreditWatch Positive On Merger News – 2006/11/02 – US$ 150.00

Research Update: CVS Corp. 'BBB+' Ratings On CreditWatch Positive On Merger News – 2006/11/02 – US$ 225.00

CVS Corp. – 2006/09/29 – US$ 500.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "CVS Corp. Long-Term Ratings Remain On Watch Pos Following Rival Offer for Caremark" Dec 18, 2006. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/CVS-Corp-Long-Term-Ratings-Remain-On-Watch-Pos-Following-Rival-Offer-for-Caremark-552328>

APA:	S&P Global Ratings’ Credit Research. (). CVS Corp. Long-Term Ratings Remain On Watch Pos Following Rival Offer for Caremark Dec 18, 2006. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/CVS-Corp-Long-Term-Ratings-Remain-On-Watch-Pos-Following-Rival-Offer-for-Caremark-552328>

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