NY -- Standard&Poor's CreditWire 3/19/98 -- Standard&Poor's today placed its ratings on Arrow Electronics Inc. on CreditWatch with negative implications (see list below). The CreditWatch listing reflects Standard&Poor's concern that electronics market weakness and highly competitive industry conditions will result in prolonged profitability pressure and deterioration of credit protection measures. Melville, N.Y.-based Arrow has consolidated its position as the world's largest electronic components and computer products distributor through ongoing acquisitions. Historically, Arrow has been able to offset gross profit margin pressures with effective cost management and economies of scale gained through successful integration of acquisitions. However, weak electronic component pricing and demand have negatively impacted profitability. Arrow's operating margin (before depreciation and amortization) was
