Moody's may lift AmerisourceBergen

Moody's Investors Service said it placed the ratings of AmerisourceBergen Corp. under review for possible upgrade (Ba1 corporate family rating) based on the company's continued adherence to a conservative financial policy that has resulted in credit ratios consistent with an investment-grade rating.

Moody's said it rating review will primarily consider: (1) the likelihood that management will not pursue debt-funded initiatives, (2) prospects for revenue growth during 2008, (3) the extent to which core pharmaceutical distribution operating margins can recover, (4) sustainable levels of operating cash flow following one-time working capital benefits and (5) any additional developments related to changes in benchmark pricing.

According to the agency, ratings placed under review for possible upgrade include the corporate family rating at Ba1 and senior unsecured debt at Ba1.

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