Moody’s Downgraded HP’s Long Term Credit Rating To Baa1

Posted on Nov 29 2012 - 5:56am by Editorial Staff

Since from the last week, Hewlett-Packard seeing swinging up and down, thanks to the autonomy deal, which even results in an investor leads to now sue the company. Over all this, Moody’s downgraded HP’s long term credit rating from A3 to Baa1 means three levels above junk which bangs with a negative outlook, reports Bloomberg.

“Although HP will maintain strong to leading positions in a number of product areas, the company’s credit profile will remain weaker than previously expected over the intermediate term,” Richard Lane, a Moody’s senior vice president, wrote in the statement. Sales at Hewlett-Packard will decline 5 percent next year and operating margins will narrow, compared with the company’s historical average, Moody’s said.

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