...NEW YORK (Standard & Poor's) Sept. 23, 2015--Standard & Poor's Ratings Services today assigned its '###+' issue-level rating to CVS Health Corp.'s proposed tranches of senior unsecured notes totaling $700 million. The company is exchanging the new notes for senior notes issued by Omnicare Inc. CVS acquired Omnicare in August 2015 in a transaction valued at about $12.7 billion, including the assumption of Omnicare's debt. Our expectation for the successful integration of the smaller-sized Omnicare and performance growth at CVS' retail and pharmacy benefit management business supported our credit view of CVS. We believe the company has also successfully diversified its revenues and cash flow stream through the growth of its retail pharmacy, pharmacy benefits management services, MinuteClinic, and specialty pharmacy segments, as well as acquisitions to bolster its competitive position. We think earnings and cash flows will remain robust despite reimbursement rate pressures that could continue...
