Fitch Assigns 'BBB' Rating to Express Scripts' (ESRX) New Bonds
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February 22, 2016 9:29 AM EST
CHICAGO--(BUSINESS WIRE)--
Fitch Ratings has assigned a 'BBB' rating to the new bonds issued by
Express Scripts Holding Co. (NYSE: ESRX). The Rating Outlook is Stable.
Proceeds will be used to refinance upcoming maturities, including the
$1.5 billion of bonds due May 2016, and for general corporate purposes.
This refinancing of upcoming maturities with incrementally larger
issuances is in line with Fitch's expectations for ESRX.
A full list of ratings, which apply to approximately $15.6 billion of
debt at Dec. 31, 2015, follows at the end of this release.
KEY RATING DRIVERS
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February 22, 2016 8:50 AM EST
ST. LOUIS, Feb. 22, 2016 /PRNewswire/ --Â Express Scripts Holding Company (NASDAQ: ESRX) (the "Company" or "Express Scripts") today announced that it has commenced a tender offer (the "Tender Offer") to purchase for cash any and all outstanding 3.125% senior notes due 2016 listed in the table below (the "Notes").
Title of Security
CUSIP Number
Principal Amount... More
