HP Reports Fourth Quarter 2007 Results
Fourth quarter net revenue up 15%, or $3.7 billion, from a year earlier to $28.3 billion
Fiscal 2007 net revenue up 14%, or $12.6 billion, to $104.3 billion
All of the firms’ ratings were affirmed.
Commenting further, Moody’s said that the revision of the outlook to stable reflects the deterioration in the intrinsic financial strength of HSBC’s US operations, most notably HFC as well as the challenges that the rating agency expects the group will be facing over the remainder of 2007 and during 2008 due to the more difficult global credit environment.