Fitch assigns Anixter notes BB+/RR4

Fitch Ratings said it assigned a BB+/RR4 rating to Anixter, Inc.'s senior unsecured notes offering.

Anixter intends to use the net proceeds to fund a portion of the previously announced acquisition of HD Supply Holdings Inc.'s Power Solutions business for $825 million in cash.

The ratings affect $1.7 billion of debt, including undrawn amounts under the company's credit facilities.

Fitch said it believes Anixter's proposed acquisition of Power Systems, the leading top utilities distributor in the U.S., should support longer-term top line growth by adding complementary transmission and distribution capabilities to Anixter's existing generation business.

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