Moody’s affirms Hewlett Packard Enterprise

Moody's Investors Service said it affirmed the Baa2 senior unsecured rating of Hewlett Packard Enterprise Co. following the company's announcement that it plans to spin off its non-core software assets to its shareholders and combine those assets with UK-based, Micro Focus International plc (B1, stable) in a tax free transaction valued at $8.8 billion.

Both boards of directors have approved the transaction and, subject to regulatory approvals, Hewlett Packard Enterprise expects to close the transaction in the second half of fiscal 2017.

The outlook is stable.

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