Moody's rates Arrow notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Arrow Electronics, Inc.'s offering of five-year and 10-year senior notes. The outlook is stable.

Proceeds from the new issue will be used to refinance the company's 6.875% notes due July 1, 2013 at or before maturity and for general corporate purposes, including acquisitions. The company may also apply the proceeds to reduce amounts outstanding under its $1.2 billion revolving credit facility or $775 million asset securitization program.

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