Top tier position in global components distribution industry (along with Avnet Inc.); Geographic and customer diversity; Successful employment of acquisitions in a consolidating industry; and Moderate, but increasing, barriers to entry (because of consolidation). Highly competitive, relatively low-value-added industry; and Variable profitability resulting from volatility in industry demand. The rating on Melville, N.Y.-based Arrow Electronics Inc. reflects the company's leading market position and good operating performance in the face of challenging industry conditions. These factors are offset by highly competitive, relatively low-margin industry characteristics, as well as the potential for variable profitability and debt protection metrics resulting from volatile industry demand. Arrow is one of the leading global electronic components and computer products distributors. The company reported revenue of $16.0
