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Moody's ups Hewlett-Packard
Moody's Investors Service said it raised the short-term rating of Hewlett-Packard Co. to Prime-1 from Prime-2, reflecting expectations that the company will maintain excellent liquidity relative to financial obligations and operational requirements.
The outlook on Hewlett-Packard's long-term rating remains positive.
Moody's said Hewlett-Packard maintains a very liquid balance sheet with $13.9 billion of cash and short-term investments at January 2004, invested significantly in very short-term instruments.
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