Moody's changes Rite Aid outlook to positive from stable Moody's Investors Service today changed Rite Aid Corporation's outlook to positive from stable. All existing ratings including its Caa1 Corporate Family Rating and Speculative Grade Liquidity rating of SGL-3 are affirmed.
Rite Aid remains an attractive financial story, says BofA/Merrill BofA/Merrill said Rite Aid's (RAD) forward results should reflect Envision contributions, few store closures, McKesson contract savings, and ongoing capital structure initiatives. The firm said Rite Aid has opportunities to reduce debt and refinance other obligations that will increase ROIC and lower its cost of capital. BofA/Merrill is encouraged by the company's progress and notes there is little correlation with Wal-Mart's (WMT) sales following yesterday's weakness in shares. The firm rates Rite Aid shares a Buy.