Semana de malas noticias para HP, ahora en términos de mercado, la cosa no suena bien para una de las gigantes de computadoras.
Nefasto cierre de semana para la empresa HP, quienes sufrieron una degradación a su crédito de A, bajado a BBB+ mientras que su clasificación de corto plazo bajó a A-1.
Standard & Poors justificó la degradación tomando en cuenta la jerarquía de su gerencia ha crecido al punto que crece las posibilidades de riesgo y además las estrategias de crecimiento están algo no claros para ellos.
Esto significará que habrá problemas para que HP pueda recurrir a más dinero, o sea que pedir prestado será más cuesta arriba sin mencionar que la reciente adquisición de la empresa Autonomy, dedicada al desarrollo de software, provocó que la liquidez de la empresa.
Comunicado de prensa:
Hewlett-Packard Co. Corporate Credit, Senior Unsecured Ratings Lowered To ‘BBB+’; Outlook Stable
Publication date: 30-Nov-2011 16:25:02 EST
- Hewlett-Packard Co. recently clarified that it is maintaining its fundamental business mix, including the retention of its Personal Systems Group.
- The company also set expectations for lower revenues and profits in 2012.
- We are lowering our corporate credit rating on the company to ‘BBB+’ from ‘A’ and removing it from CreditWatch.
- We are also lowering the short-term rating to ‘A-2′ from ‘A-1′.
- The stable outlook reflects our expectation that HP’s operating trends and financial policies will sustain debt protection metrics near current levels.
NEW YORK (Standard & Poor’s) Nov. 30, 2011–Standard & Poor’s Ratings Services
said today that it lowered its corporate credit and senior unsecured ratings
on Palo Alto, Calif.-based Hewlett-Packard Co. (HP) to ‘BBB+’ from ‘A’, and
removed them from CreditWatch, where they were placed with negative
implications on Aug. 18, 2011. At the same time, we lowered our short-term
rating on HP to ‘A-2′ from ‘A-1′. The outlook is stable.“The downgrade reflects liquidity and financial flexibility that have been
reduced by more aggressive financial policies, including the use of leverage
to fund the recent $10.2 billion (net) Autonomy acquisition,” said Standard &
Poor’s credit analyst Martha Toll-Reed, “and annual share repurchases well in
excess of discretionary cash flow.” In addition, we have concerns that HP’s
inconsistent growth strategies and high levels of Board of Director and senior
management turnover have elevated the level of operational and execution risk
in the near term.The stable outlook reflects our expectation that HP’s operating trends and
financial policies will sustain debt protection metrics near current levels.
We could lower the rating if debt to EBITDA is likely to exceed the low-2x
area on a sustained basis because of weaker operations or incremental debt. A
higher rating is unlikely for the near-to-intermediate term, based on current
leverage levels, an ongoing emphasis on shareholder returns, and our
expectation that continuing investments will be required to maintain
competitiveness.
Momento de reorganizar estrategias y enfocarse en innovación sería mi consejo de consumidor a compañía.
