CVS Caremark ratings affirmed by S&P

NEW YORK The financial market intelligence company Standard & Poor’s has affirmed its ratings on CVS Caremark.

What this means is that the financial ratings company is okaying CVS’ acquisition of Long Drug Stores, which was announced yesterday.

“The rating affirmation is based on CVS Caremark's track record in integrating acquired retail stores, its strong cash flow generation and the expected debt reduction to restore credit measures to levels more appropriate for the rating,” said Standard & Poor's credit analyst Ana Lai.