Fitch affirms Arrow Electronics

Fitch Ratings said it affirmed Arrow Electronics, Inc.'s issuer default rating at BBB-, senior unsecured notes at BBB- and senior unsecured bank credit facility at BBB-.

The outlook is stable.

The ratings are based on expectations for steady end-market demand and stabilization of industry financial profiles, Fitch said, offset by expectations of moderate deterioration in liquidity and heightened event risk.

Fitch said it expects a slowdown in sales growth in 2011, as corporate IT demand normalizes amid sluggish growth in North America and Europe.

This is offset by continued strong growth in the emerging markets, particularly the Asia Pacific region, the agency said.

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