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S&P puts Harvard Drug on positive watch
Standard & Poor’s said it placed all of its ratings on the Harvard Drug Group LLC, including the B corporate credit rating, on CreditWatch with positive implications.
“The CreditWatch placement follows Cardinal Health’s [A-/stable/A-2] announcement that it will acquire the Harvard Drug Group for $1.115 billion in cash,” said S&P credit analyst Michael Berrian in a news release.
S&P announced that the A- corporate credit rating on Cardinal Health was unchanged following the announcement.
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