NEW YORK (Standard&Poor's) August 18, 2011--Standard&Poor's Ratings Services said today that it placed its 'A' corporate credit rating and senior unsecured rating and its 'A-1' short-term rating on Palo Alto, Calif.-based Hewlett-Packard Co. (HP) and its subsidiaries on CreditWatch with negative implications. The CreditWatch listing follows HP's announcement that as part of accelerated plans to move into higher value, higher margin growth categories they are: Exploring strategic alternatives for its Personal Systems Group that may include a separation from HP, a spin-off, or other transaction; Shutting down its operations for webOS devices and exploring strategic alternatives for webOS software; and Offering to acquire Autonomy Corp. PLC for about $11 billion in cash. "The Personal Systems Group
