Moody’s assigns Walgreens Boots Alliance notes Baa2

Moody's Investors Service said it assigned a Baa2 senior unsecured note rating to Walgreens Boots Alliance, Inc. (WBA).

The outlook is stable.

The rating is being assigned as a part of Walgreen Co.'s acquisition of the remaining 55% equity of Alliance Boots, expected in early 2015.

Upon closing of the acquisition, Walgreens Boots Alliance will become the parent company with a direct wholly owned subsidiary Walgreen and an indirect wholly owned subsidiary Alliance Boots GmbH.

Proceeds from the senior unsecured notes will be used to fund a portion of the cash consideration to acquire the remaining equity of Alliance Boots, to refinance substantially all of Alliance Boots existing debt, and to pay related fees and expenses.

The existing Walgreen ratings are unaffected by this announcement.

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