Fitch changes HP outlook to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed HP Inc.'s long-term BBB+ issuer default rating and associated debt ratings.

“The affirmation and outlook stabilization reflect that despite the impact of the coronavirus, which was less severe for HP than originally feared, the company is in a much better position to maintain its credit protection metrics generally consistent with Fitch's sensitivities while still returning $16 billion to shareholders,” the agency said in a press release.

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