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S&P changes CVS outlook to stable
S&P said it changed its outlook for CVS Health Corp. to stable from positive and affirmed its BBB ratings.
“The stable outlook reflects that with recent earnings and financial policy guidance, we now expect leverage to remain above 3x on an S&P Global Ratings-lease-adjusted basis in the coming one to two years,” the agency said in a press release.
Additionally, S&P said it expects the company to boost dividends, continue share buybacks and continue its M&A activity.
S&P also noted that last month CVS said it would pay $5 billion over the next 10 years to substantially resolve the opioid litigation.
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