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Insurance Underwriter - Ratings and Research
S&P revises outlook on CVS Caremark to negative
November 07, 2009 10:34 AM ET
By Zaeem Shoaib

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Standard & Poor's Ratings Services on Nov. 6 revised its outlook on CVS Caremark Corp. to negative from stable.

At the same time, the rating agency affirmed the company's corporate credit rating at BBB+ and its short-term rating at A-2.

"The outlook change reflects our concern that CVS Caremark's pharmacy benefits management (PBM) business may deteriorate further," S&P credit analyst Ana Lai said in a news release.

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