S&P puts Walgreen on CreditWatch

Standard & Poor's said it placed all of the ratings for Walgreen Co., including the A long-term and A-1 short-term corporate credit ratings, on CreditWatch with negative implications.

S&P said the CreditWatch placement follows the company's announcement that it entered into an agreement to make an initial investment of 45% in Alliance Boots for $6.63 billion with an option to buy the remaining 55% in about three years.

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