Omnicare, Inc. -- Moody's assigns Ba3 rating to Omnicare's new convertible sr subordinated notes; outlook stable

New York, August 23, 2013 -- Moody's Investors Service assigned a Ba3 rating to Omnicare, Inc.'s new $424.25 million in aggregate principal amount of convertible senior subordinated notes, due 2044, with an original issue price of about $388.83 (which will accrete on a semi-annual basis). These notes are being exchanged for $180.46 million in principal amount of existing 3.75% convertible senior subordinated notes, due 2025. At the same time, Moody's understands that Omnicare is retiring about $5.15 million in principal amount of these existing subordinated notes and about $150 million in principal amount of its 7.75% senior subordinated notes due 2020. The rating outlook is stable. Omnicare's other ratings (including its Ba3 Corporate Family Rating) remain unchanged although LGD assessments have been modified.

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