Fitch gives Hewlett Packard notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Hewlett Packard Enterprise Co.'s senior note offering.

The outlook is stable.

The company issued a total of $1.3 billion of senior notes due 2021, consisting of $500 million of 3.5% and $800 million of floating rate senior notes, and will use net proceeds to fund the repayment of $1.3 billion of debt maturing on Oct. 5.

The agency said the ratings and outlook reflect expectations for stable performance within the context of a low market growth environment, driven by strong edge computing demand and a richer sales mix as the company provides solutions optimizing its customers' hybrid IT environments.

Hewlett Packard's optimization of profitability for volume products should partially offset the headwind from lower shipment demand, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.