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HP Debt at Riskiest Level to Dell in Decade

Cost to insure Hewlett-Packard bonds rises after warning on earnings.

By Charles Mead, Bloomberg | Updated on October 05, 2012

Hewlett-Packard Co. debt is the riskiest in a decade relative to Dell Inc. as Chief Executive Officer Meg Whitman struggles to transform the world’s largest computer maker in an age of tablets and smartphones.

The cost to insure Hewlett-Packard bonds with credit-default swaps grew to 54.9 basis points more than its largest rival on Oct. 3 after being cheaper a year ago. The gap grew 15 points as Whitman said income would be below analyst estimates and that her company lacked “competitive focus.” Moody’s Investors Service said yesterday it may downgrade the firm.

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