  We report on Hartree-Fock-Bogoliubov (HFB) calculations of the ground-state
rotationnal band of the heavy nucleus $^{254}$No recently observed
experimentally. The calculated quadrupole deformation is consistent with the
experimental value of $\beta=0.27$ and is almost constant over the whole band.
We also reproduce fairly well the excitation spectra and moments of inertia of
this isotope up to the maximal experimentally observed state of spin 20. The
rather high stability of this nucleus against fission is illustrated by the
deformation energy curve providing very high fission barriers at zero spin
within the HFB and HFB plus Lipkin-Nogami formalisms. The variation of these
barriers with increased angular velocities is also studied.
