Moody's gives Arrow notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Arrow Electronics, Inc.'s planned senior unsecured note offering. All other ratings and the stable outlook are unchanged.

“The Baa3 senior unsecured rating benefits from Arrow's large scale as one of the leading global distributors of electronic components and information technology (IT) products. Arrow's broad reach into its small and medium sized business (SMB) customer base combined with its global footprint position the company as an important long-term partner for IT and components manufacturers,” Moody’s said in a press release.

Arrow may use the proceeds to redeem $350 million of outstanding 3.5% notes due 2022 when callable with remaining proceeds earmarked to fund general corporate purposes.

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