Moody's assigns new Express Scripts notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to a benchmark senior unsecured note offering for Aristotle Holding, Inc., a subsidiary of Express Scripts, Inc.

Express Scripts' and Aristole Holding's existing debt ratings remain unchanged.

The outlook is stable.

"This transaction, similar to last year's offering, is consistent with Moody's expectation that Express Scripts would pre-fund the proposed merger with Medco," Moody's senior credit officer Diana Lee said in a news release. "The Baa3 rating reflects our belief that Express Scripts will remain committed to deleveraging and will re-establish investment grade metrics relatively quickly."

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