Hewlett-Packard Company -- Moody's places Hewlett-Packard (senior unsecured Baa1) on review for downgrade following split announcement

New York, October 06, 2014 -- Moody's Investors Service ("Moody's") placed the ratings of Hewlett-Packard (HP) under review for downgrade following the company's announcement that it plans to separate its Personal Systems businesses (personal computer (PC) and printing) from its Enterprise businesses through a tax free spin-off to shareholders. Subject to customary regulatory filings, the company estimates the separation could be completed by the end of fiscal 2015. The company did not announce which of the businesses (Personal Systems or Enterprise) will be spun off nor the expected debt levels and allocation of cash and marketable securities to each entity.

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