Fitch affirms Hewlett Packard

Fitch Ratings said it affirmed the ratings for Hewlett Packard Enterprise Co., including the long-term issuer default rating at BBB+ and short-term issuer default rating at F2.

The outlook is stable.

The agency said the ratings and outlook reflect an expectation for stable operating performance through the forecast period, driven by the company's pivot to higher value solutions and restructuring, despite demand headwinds for enterprise hardware.

Fitch said the company’s optimization of its volume portfolio for profitability, including exiting the low-end server shipments to cloud service providers, and solid demand trends in edge computing should enable the company to achieve break even or slightly positive revenue growth, despite secular declines in legacy products.

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