S&P keeps Hewlett-Packard on watch

Standard & Poor's said it kept its ratings, including the BBB+ corporate credit rating, A-2 commercial paper rating and BBB+ senior unsecured debt rating, on Hewlett-Packard Co. on CreditWatch, where they were placed with negative implications on Oct. 6, 2014.

"The original CreditWatch placement on Oct. 6, 2014 followed the company's announcement that it plans to separate into two public companies in 2015 through a tax-free transaction," S&P credit analyst John Moore said in a news release.

Hewlett-Packard plans to separate its enterprise technology infrastructure, software, and services businesses, Hewlett-Packard Enterprise Co., from its remaining personal systems and printing businesses, which it plans to rename HP Inc. upon separation.

While the separation will provide greater operational focus at each new company, it will also diminish Hewlett-Packard’s business diversity. The company expects to complete the separation by Nov. 1.

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