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BioScrip Inc. 'B' Corporate Credit Rating Affirmed After Announced Divestiture of Specialty Pharmacy Businesses Feb 12
Standard & Poors, Feb 2012
Abstract
Elmsford, N.Y.-based BioScrip expects to sell certain assets of its community specialty pharmacies and centralized specialty and mail-service pharmacy businesses to Walgreens Co. within the next few months for approximately $225 million. BioScrip's ongoing revenues will be higher margined, but will be reduced by about two-thirds, and will depend more on its remaining infusion and home health operations. The timing and success of the redeployment of proceeds from the divestiture are uncertain. We are affirming our low-speculative-grade 'B' corporate credit and 'B-' senior unsecured debt ratings on the company, and the rating outlook remains stable. NEW YORK (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services said today that it is affirming its ratings on Elmsford, N.Y.-based BioScrip Inc.,...
Companies mentioned in this report are: BioScrip Inc.
Action: Affirmed
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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