S&P assigns Arrow notes BBB-

S&P said it assigned Arrow Electronics Inc.’s planned $500 million of senior unsecured notes due 2032 a BBB- rating. Concurrently, the agency affirmed Arrow’s ratings, including its BBB- issuer rating.

Arrow will use the proceeds to fund either the early redemption of its $350 million of unsecured notes due 2022 or retire other debt under its working capital lines.

The outlook is stable.

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