S&P affirms Caremark Rx

Standard & Poor's said it affirmed its ratings on Caremark Rx Inc. (BBB/stable).

S&P noted that this affirmation follows the company's announcement that its board of directors has declared a quarterly cash dividend of $0.10 per share.

The investment-grade ratings on Caremark reflect the company's leading position and the solid growth prospects of the industry and the company's high level of liquidity, the agency said.

These factors are somewhat offset by the risk associated with the uncertain impact of ongoing civil and governmental investigations into the practices of its industry, as well as the implementation of Medicare Part D, S&P added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.