HP Inc.'s Proposed Senior Unsecured Notes Rated 'BBB' - S&P Global Ratings’ Credit Research

HP Inc.'s Proposed Senior Unsecured Notes Rated 'BBB'

HP Inc.'s Proposed Senior Unsecured Notes Rated 'BBB' - S&P Global Ratings’ Credit Research
HP Inc.'s Proposed Senior Unsecured Notes Rated 'BBB'
Published Jun 06, 2022
3 pages (1339 words) — Published Jun 06, 2022
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) June 6, 2022--S&P Global Ratings today assigned its 'BBB' rating to HP Inc.'s proposed senior unsecured notes. This rating reflects the immaterial amount of priority debt in the company's capital structure and that the notes rank equally with HP's existing senior unsecured debt. HP will use the proceeds to help fund its $3.3 billion acquisition of Plantronics Inc. (Poly) including refinancing or repaying Poly's existing term loan. The company will redeem the proposed notes if the Poly acquisition is not completed. Our 'BBB' issuer credit rating is unchanged. The stable outlook reflects our expectation for HP to manage current supply chain challenges affecting PC and printer markets. We expect lower consumer demand for consumer PCs

  
Brief Excerpt:

...- General Criteria: Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021 - General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 - General Criteria: Methodology For Linking Long-Term And Short-Term Ratings, April 7, 2017 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013 - Criteria | Corporates | General: Corporate Methodology, Nov. 19, 2013...

  
Report Type:

Ratings Action

Ticker
HPQ
Issuer
HP Inc.
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "HP Inc.'s Proposed Senior Unsecured Notes Rated 'BBB'" Jun 06, 2022. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/HP-Inc-s-Proposed-Senior-Unsecured-Notes-Rated-BBB-2849617>
  
APA:
S&P Global Ratings’ Credit Research. (). HP Inc.'s Proposed Senior Unsecured Notes Rated 'BBB' Jun 06, 2022. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/HP-Inc-s-Proposed-Senior-Unsecured-Notes-Rated-BBB-2849617>
  
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