15.06.2015 15:10:00

CVS Health -- Moody's affirms CVS Health's Baa1 senior unsecured rating

New York, June 15, 2015 -- Moody's Investors Service today affirmed CVS Health's Baa1 senior unsecured rating following its announcement that it will be acquiring the pharmacy and clinic business of Target Corporation in a transaction valued at $1.9 billion. CVS Health will finance this acquisition with debt. At the same time, CVS Health lowered its level of expected share repurchases in 2015 by $1 billion. CVS Health now expects to make about $5 billion of share repurchases in 2015. The rating outlook remains stable.

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