Fitch rates Express debt BBB

Fitch Ratings said it assigned a BBB rating to Express Scripts, Inc.'s senior debt offering.

The outlook is stable.

Fitch expects the proceeds from the offering will be used to fund share repurchases and for other corporate purposes.

Fitch said it believes Express will remain a consistent generator of strong cash flow relative to its modest capital expenditure needs, the agency said. In addition, the ratings incorporate some capacity for acquisitions and share repurchases, as Express had leverage of 1.0 times at March 31.

Express has a BBB issuer default rating, BBB senior bank credit facility and BBB senior notes.

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