S&P puts CareCentrix on positive watch

S&P said it placed all its CareCentrix Holdings, Inc. ratings, including the B- issuer rating, on CreditWatch with positive implications.

The placement follows the company agreeing to be acquired by investment-grade rated Walgreens Boots Alliance, the agency said.

“The CreditWatch placement primarily reflects that we will likely raise our ratings on CareCentrix by at least one notch upon the close of its proposed acquisition by much higher-rated Walgreens, which we believe would likely support the company in the event of financial difficulty,” S&P said in a press release.

The agency said it plans to resolve the CreditWatch placement following the deal’s closes, expected in the first quarter of 2022.

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