S&P affirms Hewlett Packard

S&P said it affirmed its BBB issuer credit rating on Hewlett Packard Enterprise Co.

The outlook is stable.

“The rating reflects the company's focus on the enterprise server, storage and networking hardware markets, in which competition is fierce,” the agency said in a news release.

“Larger technology companies such as Dell Technologies Inc. and Cisco Systems Inc. have greater scale or financial resources. In addition, the transition to a cloud-based computing environment and software-as-a-service delivery methods alters enterprise customers' spending patterns and poses a risk to HPE's growth prospects.

“HPE's strong position in server, storage and networking areas provides some offsets to these risks.”

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