Moody's confirms Avnet's Baa3 senior unsecured ratings; outlook is negative
New York, November 17, 2016-- Moody's Investors Service confirmed Avnet, Inc.' s Baa3 senior unsecured rating, with a negative ratings outlook. This action concludes the review for downgrade initiated on September 19, 2016, upon the company's announcement that it will sell its Technology Solutions business for $2.6 billion in cash and equity to Tech Data Corporation. Moody's anticipates that the company will balance the use of cash proceeds from the TS sale among business...
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