Please click on the link below for the entire story if you dare to learn about your investment. Walgreen ratings on review for downgrade on planned Option Care buy - Moody's July 09, 2007: 01:48 AM EST
MUMBAI, Jul. 9, 2007 (AFX International Focus) -- Moody's placed the 'Aa3' long-term rating of US drug-store operator Walgreen Company (NYSE:WAG) under review for downgrade on news Walgreen intends to buy Option Care (NASDAQ:OPTN) Inc, an operator and franchiser of specialty pharmacies, for about 860 mln usd.
The review is prompted by Moody's concern that the company's historically conservative financial policy is gradually becoming more aggressive. Aggregate cash outflows for new store development and acquisitions are increasing at a time when the company is also returning significant cash to shareholders in the form of share repurchases and dividends.
Moody's noted that, while the company's initiatives over the previous several years had been internally financed, the pending Option Care acquisition will be partially funded by an upsized commercial paper program.
The agency affirmed Walgreen's commercial paper rating at 'Prime-1'.
What is copyright law eh? I'm in a secluded part of Canada. There isn't enough business this way for Parliament to vote on such a law. Plus, the wonderful US government has more things to do then try to find me! I live in an igloo on a remote cove of the Baffin Bay. Many kilometers of nothing but elk, polar bears, and ice. Only way in and out is on a dog-sled. I have the BMW of sleds because I have two oxen power. I crush all the dog-sled racers in the village with my power. Very sophisticated.