Moody’s might lift Omnicare

Moody's Investors Services said it placed the ratings of Omnicare, Inc. under review for upgrade, including the Ba3 corporate family rating and Ba3-PD probability of default rating.

The speculative grade liquidity rating of SGL-3 was affirmed.

Moody’s said the action follows the announcement that Omnicare entered into a definitive agreement to be acquired by CVS Health (Baa1 stable) in a transaction valued at $12.7 billion. The proposed acquisition is expected to be funded through the issuance of new debt. The transaction is expected to close near the end of 2015.

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