Moody’s rates CVS notes Baa2

Moody’s Investors Service said it assigned a Baa2 rating to CVS Health Corp.’s proposed new senior unsecured notes offering.

“CVS Health’s Baa2 senior unsecured rating is supported by its strong qualitative factors, including its strong market position given its very large scale and broad industry reach and the solid fundamentals of its industry sector. Governance is also a key rating consideration, particularly its prudent financial strategies as reflected by CVS’ excellent liquidity and continued commitment to debt reduction,” the agency said in a press release.

The proceeds will be used to refinance debt and general corporate purposes, including working capital and capital expenditures.

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