Hewlett-Packard Co. 'BBB+/A-2' Ratings Remain On CreditWatch Negative Pending Business Separation

Global information technology (IT) company Hewlett-Packard Co. (HP) has filed an update to its initial registration statement on Form 10 with the SEC. The Form 10 update provides detailed capital structure information related to HP's pending separation of its enterprise business, Hewlett Packard Enterprise Co. (HPE) from its remaining printing and personal computing businesses, which are to be renamed Hewlett Packard Inc. (HPI) upon separation. Our ratings, including the 'BBB+' corporate credit rating and 'A-2' commercial paper rating, on HP remain on CreditWatch with negative implications, where we placed them on Oct. 6, 2014 following the company's announcement that it intends to separate into two public companies in a tax-free spin-off that it expects to close by the end of

...+ Global information technology (IT) company Hewlett-Packard Co. (HP) has filed an update to its initial registration statement on Form 10 with the SEC. + The Form 10 update provides detailed capital structure information related to HP's pending separation of its enterprise business, Hewlett Packard Enterprise Co. (HPE) from its remaining printing and personal computing businesses, which are to be renamed Hewlett Packard Inc. (HPI) upon separation. + Our ratings, including the '###+' corporate credit rating and 'A-2' commercial paper rating, on HP remain on CreditWatch with negative implications, where we placed them on Oct. 6, 2014 following the company's announcement that it intends to separate into two public companies in a tax-free spin-off that it expects to close by the end of October 2015. + We will continue to monitor developments related to the proposed spin-off, including HP's receipt of its board of directors' final approval and the effectiveness of the Form 10 before resolving...

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