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Moody's gives Baa2 to Hewlett Packard notes
Moody's Investors Service said it assigned a Baa2 rating to Hewlett Packard Enterprise Co.’s senior unsecured notes.
The company intends to use the net proceeds to refinance debt and for general corporate purposes.
The Baa2 rating is supported by Moody's expectations that Hewlett Packard Enterprise will maintain a low financial risk profile and conservative financial policies. Moody's expects the company to maintain total debt to EBITDA (Moody's adjusted) below 1x over the next 12 months and generate free cash flow of more than 20% of total adjusted debt.
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