Fitch gives Ingram Micro loan BBB-

Fitch Ratings said it assigned a BBB- rating to Ingram Micro Inc.'s new $250 million (with the company's option to increase the loan up to $350 million) senior unsecured term loan facility due 2012.

Fitch added that it currently rates Ingram Micro as follows: issuer default rating BBB-, senior unsecured credit facility BBB- and senior unsecured term loan facility BBB-.

The outlook is stable.

Fitch added that it believes the new facility will not materially impact Ingram Micro's overall liquidity position, as the proceeds will be used to replace capacity associated with the company's expiring accounts receivable securitization facilities, including the C$150 million AR facility expiring Aug. 31.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.