NY -- Standard&Poor's CreditWire 1/19/1999 -- Standard&Poor's today raised its ratings on CVS Corp. (see list below). The outlook is stable. The upgrades are based on the company's improved measures of profitability and cash flow protection, resulting from favorable industry trends and the economies of scale and negotiating clout with third-party payors it achieved by tripling the size of its store base. Credit measures should continue to improve due to strong prescription growth and the shifting of its real estate towards larger freestanding stores. The upgrade also takes into account CVS' leading position in the favorable drugstore industry, strong financial profile, and the belief that management is committed to maintaining a moderate financial policy. As a
