S&P: No change to CDW notes

Standard & Poor's said its ratings on CDW LLC's senior unsecured notes due 2019 remain unchanged following a $130 million add-on, bringing the aggregate dollar amount to $1,305,000,000.

The issue-level rating on the notes remains at CCC+ and the recovery rating remains at 6, indicating an expectation of negligible recovery of principal in the event of a payment default.

The B corporate credit and stable outlook on CDW remain unchanged.

S&P said the rating reflects its expectation that growth in North American IT spending and consistent profitability will support modest improvements in the company's "highly leveraged" financial profile in the near term, despite highly competitive industry conditions.

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