S&P rates Hewlett Packard Enterprise notes BBB

S&P said it assigned its BBB issue-level rating to Hewlett Packard Enterprise Co.’s senior unsecured fixed- and floating-rate notes.

Proceeds will be used together with the proceeds from an expected offering up to $1.2 billion of asset-backed notes supported by loan and lease receivables, to repay the $1.1 billion outstanding on its 2.1% notes due October 2019, to fund its previously announced acquisition of Cray Inc., and for general corporate purposes.

The notes have the same rating as that of the company, and all other ratings of the company are unchanged, S&P said.

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