Fitch assigns CDW BBB-

Fitch Ratings said it assigned first-time long-term issuer default ratings of BBB- to CDW Corp. and CDW LLC.

The agency also gave a BBB rating to CDW LLC's asset-based revolving credit facility and first-lien term loan. The agency gave the senior unsecured notes a BBB- rating in line with the IDRs.

“CDW's ratings reflect the company's substantial scale in a highly fragmented value-added IT reseller market; the strength of its global distribution capabilities across 150 markets for customers primarily in U.S., U.K. and Canada; and the company's conservative financial policy and strong FCF generation,” Fitch said in a press release.

The outlook is stable.

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