S&P lifts McKesson

Standard & Poor's said it upgraded McKesson Corp.'s corporate credit rating to A- from BBB+.

The outlook is stable.

"The action reflects McKesson's willingness and ability to maintain its modest financial risk profile while proving to be resilient in the face of the weak U.S. economy," S&P analyst Jesse Juliano said in a statement.

Ratings reflect the company's important positions in the pharmaceutical distribution and health care information technology industries, the agency said.

They also reflect the company's long-standing relationships, strong cash flows and modest financial risk profile, as well as the high barriers to entry in its industry, the agency noted.

Ratings also consider the company's somewhat narrow focus, some customer concentration and the potential for operation headwinds from the weak U.S. economy, the agency said.

© 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.