NEW YORK (Standard&Poor's) Nov. 29, 2010—Standard&Poor's Ratings Services said today that it assigned its 'A' senior unsecured rating to two tranches of notes issued by Palo Alto, Calif.-based Hewlett-Packard Co. (HP). The company intends to use the proceeds to reduce commercial paper borrowings, among other general corporate purposes. "The ratings on HP reflect our expectation that the company will maintain its strong business profile and modest financial profile despite ongoing technology risk," said Standard&Poor's credit analyst Lucy Patricola, "along with highly competitive market conditions and a recent escalation in acquisitive growth strategies." The company's strong business profile is based on its leadership position in computing and imaging solutions and services, with fiscal 2009 revenues
