Fitch affirms Arrow

Fitch Ratings said it has affirmed the ratings for Arrow Electronics, Inc. as follows: issuer default rating at BBB-; senior unsecured notes at BBB-; and senior unsecured bank credit facility at BBB-.

The outlook is stable.

Fitch's stable outlook for the IT Distributors in 2012 reflects the companies' strong liquidity and counter cyclical cash flow models rather than its outlook for end-market demand heading into 2012, according to an agency release.

While Fitch currently expects flat to slightly positive revenue growth in 2012 for the distributors, downside risk is significant with the potential for a severe and prolonged global recession in the mix.

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