On May 2, 2002, Standard&Poor's affirmed Hewlett-Packard Co.'s 'A-2' commercial paper rating and single-'A'-minus corporate credit rating and removed them from CreditWatch, where they were placed Sept. 4, 2001. The outlook is negative . The affirmation reflects Standard&Poor's expectation that the acquisition of Compaq Computer Corp. will be closed by May 7, 2002. Standard&Poor's also raised Compaq's corporate credit rating to single-'A'-minus from triple-'B' and removed it from CreditWatch, where it was placed Sept. 4, 2001. Compaq's outlook is negative. Palo Alto, Calif.-based Hewlett-Packard Co. is a leading, global vendor of computing and imaging solutions and services, with pro forma 2001 revenues in excess of $80 billion. The ratings reflect the improved market position
