S&P assigns HP notes BBB

S&P said it assigned its BBB issue-level rating to HP Inc.'s proposed unsecured senior notes offering.

The company will use the proceeds to fund its tender for notes due 2020 and 2021 totaling $2.5 billion outstanding, as well as for general corporate purposes.

“The issuance will improve HP's near-term debt maturity profile and preserve its liquidity position to manage near-term cash flow variability,” S&P said in a press release.

HP’s BBB issuer credit rating is unchanged, S&P said.

The outlook is stable.

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