Fitch affirms AmerisourceBergen

Fitch Ratings said it affirmed AmerisourceBergen's issuer default rating, senior unsecured credit facility and senior unsecured debt at BBB.

The outlook is stable.

Ratings are supported by the company's stable leverage and ample liquidity, according to the agency.

Despite a challenging economic environment, the divestiture of Pharmerica's workers' compensation business, and the loss of a $3 billion delivery contract, the company's continues to generate growth in funds from operations, the agency said.

The challenging economic environment could place financial stress on pharmacies that carry higher debt levels and rely more heavily on credit for liquidity, Fitch noted.

At Dec. 31, total debt-to-EBITDA ratio was 1.23x.

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