S&P affirms Hewlett-Packard, ups view to positive

Standard & Poor's said it affirmed its A- corporate credit rating on Hewlett-Packard Co. (HP) and revised the outlook to positive from stable.

The outlook revision reflects the agency's expectation that operating profitability will continue to improve over the near to intermediate term.

"The ratings on Hewlett-Packard Co. reflect its broad market position and strong financial profile for the rating," said S&P credit analyst Martha Toll-Reed.

These factors partly are offset by the significant level of operational execution risk inherent in the highly competitive and rapidly evolving technology market, as well as the company's earnings reliance on its printing and imaging segment, the agency added.

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