S&P affirms AmerisourceBergen

Standard & Poor's said it affirmed AmerisourceBergen Corp.’s A- corporate credit rating, A-2 short-term rating and A- issue-level rating.

The outlook is stable.

"The rating affirmation is based on our belief that the company has the capacity to fund this acquisition while still restoring leverage to less than 1.5x by the end of 2017," S&P credit analyst Michael Berrian said in a news release.

Although the acquisition of PharMEDium for $2.6 billion comes shortly after the $2.5 billion acquisition of MWI, the temporary suspension of share repurchases and the redirection of free cash flow will help reduce the incremental debt, the agency said.

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