NEW YORK (Standard&Poor's) Aug. 9, 2010—Standard&Poor's Ratings Services said today that Hewlett-Packard Co. (HP; A/Stable/A-1) CEO Mark Hurd's unexpected resignation announced Aug. 8 2010, does not affect our ratings on the company. A largely stable base of division-level executives at operations that continue to generate consistent earnings and cash flow partly offsets the CEO turnover. Near-term operating trends that remain favorable, ample liquidity, and light leverage support our expectations for the current rating. As in any case of high-level management transition, Standard&Poor's will evaluate any changes in growth objectives or financial policies from our current expectation after a new CEO is appointed. We view HP's business profile as "Strong" based on product and geographic
