CVS Health Corp. (BBB/Watch Pos/A-2), parent company of U.S. health insurer Aetna Inc., has announced its intention to spin off CVS Pharmacy from CVS Health. As a result, we placed our'BBB'issuer credit rating on Aetna Inc. and our'A-'financial strength and issuer credit ratings on its core operating subsidiaries on CreditWatch with positive implications. The CreditWatch placement indicates that we could affirm or raise the ratings by up to two notches once the separation is complete, expected during the first half of 2028. On Nov. 4, 2026, S&P Global Ratings placed its'BBB'issuer credit and issue ratings on Aetna Inc. on CreditWatch with positive implications. We also placed our'A-'financial strength and issuer credit ratings
