Research Update: CVS Caremark Corp. Outlook Revised To Negative; 'BBB+' Corporate Credit Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: CVS Caremark Corp. Outlook Revised To Negative; 'BBB+' Corporate Credit Rating Affirmed

Research Update: CVS Caremark Corp. Outlook Revised To Negative; 'BBB+' Corporate Credit Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: CVS Caremark Corp. Outlook Revised To Negative; 'BBB+' Corporate Credit Rating Affirmed
Published Nov 06, 2009
1799 words — Published Nov 06, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

CVS Caremark's pharmacy benefits manager (PBM) lost more contracts than expected and segment profits will likely decline in 2010. Leverage could rise to 3.0x in 2010. We are changing the outlook to negative from stable and affirming the 'BBB+' corporate credit rating. Our negative outlook on the ratings reflects our concern that Caremark could lose additional contracts. On Nov. 6, 2009, Standard&Poor's Ratings Services revised its outlook on CVS Caremark Corp. to negative from stable. At the same time, we affirmed the 'BBB+' corporate credit and 'A-2' short term ratings on the company. The outlook change reflects our concern that CVS Caremark's pharmacy benefits management (PBM) business may deteriorate further. The company announced that the PBM business had

  
Brief Excerpt:

RESEARCH Research Update: CVS Caremark Corp. Outlook Revised To Negative; '###+' Corporate Credit Rating Affirmed Publication date: 06-Nov-2009 Primary Credit Analyst: Ana Lai, CFA, New York (1) 212-438-7895; ana_lai@standardandpoors.com...

  
Report Type:

Research Update

Ticker
CVS
Issuer
CVS Health Corp.
GICS
Health Care Services (35102015)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: CVS Caremark Corp. Outlook Revised To Negative; 'BBB+' Corporate Credit Rating Affirmed" Nov 06, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-CVS-Caremark-Corp-Outlook-Revised-To-Negative-BBB-Corporate-Credit-Rating-Affirmed-755890>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: CVS Caremark Corp. Outlook Revised To Negative; 'BBB+' Corporate Credit Rating Affirmed Nov 06, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-CVS-Caremark-Corp-Outlook-Revised-To-Negative-BBB-Corporate-Credit-Rating-Affirmed-755890>
  
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