Fitch stabilizes Hewlett Packard Enterprise view

Fitch Ratings said it changed its outlook for Hewlett Packard Enterprise Co. and its wholly owned subsidiary Hewlett Packard International Bank plc to stable from negative and affirmed their ratings at BBB+.

“The ratings and outlook reflect Fitch's expectation for the continuation of positive operating momentum over the rating horizon, despite the anticipation of nearer-term macroeconomic headwinds. The company's strategic pivot to providing edge-to-cloud solutions delivered as-a-service (aaS) provide revenue growth vectors that should more than offset secular declines in legacy markets. At the same time, the near-completion of restructuring announced in 2020 should support operating EBITDA margins in the mid- to high-teens and $500 million to $1 billion of average adjusted annual FCF,” the agency said in a press release.

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