On May 21, 2015, global information technology company Hewlett-Packard Co. reported quarterly results, including $25.5 billion in revenues, a decline of 7% year over year or 2% in constant currency, which is in line with our expectations for flat to slightly down revenue performance in constant currency in 2015. On Oct. 6, 2014, we placed our ratings on HP on CreditWatch with negative implications following the company's announcement that it intends to separate into two public companies in a tax-free spin-off expected to close by the end of October 2015. We are keeping our ratings, including the 'BBB+' corporate credit rating and 'A-2' commercial paper rating, on HP on CreditWatch with negative implications. We will continue to monitor developments related
