Moody's may cut Hewlett-Packard

Moody's Investors Service said it placed the long-term ratings of Hewlett-Packard Co. under review for downgrade following management's revised expectations for profitability and cash flow, and the extended timetable for the potential for improvement in business performance.

The agency said those factors make it likely that leverage will be higher than expected over the intermediate term. The P-2 short term rating is not under review.

Moody's said the review will focus on the company's prospects to stabilize and then improve profitability and cash flow generation of its broad portfolio and to achieve meaningful cost reductions without disrupting its business execution.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.