Fitch gives Hewlett-Packard Enterprise notes BBB+

Fitch Ratings assigned a BBB+ rating to Hewlett-Packard Enterprise Co.’s senior notes offering, which will be pari passu with the company's senior unsecured debt.

“Fitch expects HPE will use net proceeds from the senior notes offering to prefund upcoming debt maturities, including $3 billion of 3.6% senior notes due Oct. 15, 2020. While HPE issued $775 million of asset-backed securities (ABS) on Feb. 20, 2020, Fitch anticipates net proceeds will support near-term liquidity should HPE's financing services business (HPFS) be unable to roll over $696 million of commercial paper (CP) borrowings at Jan. 31, 2020 due to ongoing market dislocations,” the agency said in a press release.

The outlook is stable.

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