S&P cuts HP credit rating on lack of strategy, management turnover

BGR - Credit rating agency Standard & Poor’s downgraded Hewlett-Packard’s credit rating earlier this week, citing poor policies, a high turnover rate among top executives and an unclear strategy. HP’s local and foreign long-term debt ratings now sit at BBB+, down from A, making it more expensive for the company to borrow money. The firm also cut HP’s short-term rating to A-2 from A-1.

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