Standard&Poor's Ratings Services derives its 'BBB+' rating on CVS Caremark Corp. from: Our anchor of 'bbb+', based on our "strong" business risk and "intermediate" financial risk profile assessments for the company. Modifiers, which did not have an impact on the rating outcome. Strong competitive position as the largest integrated pharmacy company in the favorably regarded U.S. drugstore industry; Unique integrated prescription access model, combining retail and mail order, enhances access and differentiates the company from standalone drugstores or pharmacy benefit managers (PBMs); and Consistent and solid sales and earnings growth-- the recent decision to stop tobacco sales will reduce annual revenue by about $2 billion or less than 2% of revenues. Commitment to maintaining current debt leverage target;
