New York, February 26, 2016 -- On 25 February 2016, Express Scripts Holding Company (Baa2 stable) executed a $2.8 billion accelerated buyback program (ASR). Moody's views this as credit negative because it reduces Express Scripts' financial flexibility. However, Moody's believes the ASR was funded with balance sheet cash and this development has no effect on Express Scripts' ratings or outlook. For additional information, please refer to Moody's Issuer Comment on Express Scripts on www.moodys.com.
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