...NEW YORK (Standard & Poor's) Feb. 25, 2016--Standard & Poor's Ratings Services said today that its ratings and outlook on Palo Alto, Calif.-based printing and PC products and related solutions provider HP Inc. (###/Stable/A-2) are not affected by the company's reported mixed first-quarter 2016 results. In the first quarter, HP's revenues declined in constant currency by 5% year over year, with an 11% constant currency decline in the printing business (which represented a significant acceleration from the preceding quarter's 9% constant currency revenue decline) and 6% PC business decline. We expect that ongoing foreign currency headwinds, pernicious competition from Japanese printing competitors, and weak PC market conditions will result in only gradual moderation of revenue declines in 2016. Consequently, we now expect that revenues will decline by about 10% in 2016, representing a slight acceleration from our prior 9% estimate. The company also revised and lowered its 2016 free cash flow...
