NEW YORK (Standard&Poor's) October 14, 2011--Standard&Poor's Ratings Services said today that it assigned Melville, N.Y.-based global electronic component and computer product distributor Arrow Electronics Inc.'s new $1.2 billion 4(2) commercial paper (CP) program its 'A-3' short-term rating. Our 'BBB-' long-term corporate credit rating and stable rating outlook on the company remain unchanged. The rating on Arrow reflects the company's satisfactory business position and intermediate financial position in the face of challenging macroeconomic industry conditions. The electronic distribution industry's highly competitive and relatively low-margin characteristics, as well as the potential for variable profitability and debt protection metrics resulting from volatile industry demand, offset company strengths. Arrow's liquidity is adequate .In the short term, we expect the company
