• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: McKesson Corp. Jan 12
Standard & Poors, January 2012
The ratings on San Francisco, Calif.-based drug distributor McKesson Corp. reflect Standard & Poor's Ratings Services' expectation for high-single-digit revenue growth in fiscal 2012, largely because of the impact of acquisitions and the strong performance of the company's technology solutions business. We believe revenue growth will decline to low single digits in fiscal 2013, in line with our expectations for the pharmaceutical distribution industry. We believe revenues will be hurt by the conversion of branded drugs to generic, but expect this to help operating margins. We project a 10-basis-point annual improvement in margin beginning in fiscal 2013. McKesson has industry-leading margins, largely because of its higher-margin technology solutions business. The company's "satisfactory" business risk profile (as we define the term)...
Companies mentioned in this report are: McKesson Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.