S&P gives BBB- to Avnet notes

Standard & Poor’s said it assigned its BBB- issue-level rating to Avnet Inc.’s proposed issue of senior unsecured notes.

“Our BBB- corporate credit rating on Avnet reflects the company’s leading position and large scale in the global electronics components and computer products distribution industry, good vendor relationships, and potentially countercyclical working capital investments,” S&P said in a news release.

“However, its supplier concentration, low-margin characteristics, and volatile industry demand somewhat offset those factors,” the agency said.

© 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.