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S&P lowers Hewlett-Packard to BBB
Standard & Poor's said it lowered its corporate credit rating on Hewlett-Packard Co. (HP) to BBB from BBB+.
The outlook is stable.
The agency also lowered its corporate credit rating on HP International Bank plc to BBB from BBB+.
Both ratings were removed from CreditWatch, where they were placed with negative implications on Oct. 6.
"The downgrade of HP and HP International Bank plc (HPIB) reflects diminished business diversity resulting from the separation of HP and HPE, its enterprise computing business," S&P credit analyst John Moore said in a news release.
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