Walgreens Boots rating cut to Ba2 from Baa3 at Moody’s

Moody’s Investors Service downgraded the senior unsecured ratings of Walgreens Boots Alliance to Ba2 from Baa3 and its backed senior unsecured commercial paper rating to Not Prime from Prime-3. Moody’s also downgraded Walgreens Co.’s senior unsecured rating to Ba1 from Baa3. At the same time, Moody’s assigned WBA a Ba2 corporate family rating, a Ba2-PD probability of default rating and an SGL-2 speculative grade liquidity rating, which concludes the review for downgrade that was initiated on October 13. The rating outlook is stable.