Fitch gives Arrow Electronics notes BBB-

Fitch Ratings said it assigned a BBB- rating to Arrow Electronics, Inc.'s proposed offering of $500 million in senior unsecured notes.

Fitch said it expects a portion of the proceeds to be used to refinance Arrow's $332 million senior unsecured note maturing July 2013.

According to the agency, credit strengths include the company's leading market positions in both component and enterprise computing distribution worldwide; the ability to generate cash from operations in a normal revenue growth environment, as well as achieve significant free cash flow in a downturn from reduced working capital; and a highly diversified supplier and customer base.

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