NY -- Standard&Poor's CreditWire 10/1/98 -- Standard&Poor's today affirmed its ratings on Arrow Electronics Inc. (see table below), and revised the outlook to negative from stable. The outlook revision reflects Arrow's recent announcement that it has signed definitive agreements to acquire Bell Industries Inc.'s Electronics Distribution Group (EDG) and also Richey Electronics Inc., and Arrow's resulting weaker financial profile. Standard&Poor's also placed its ratings of Richey Electronics Inc. (see table below) on CreditWatch with positive implications, reflecting the fact that Richey's ratings will be raised upon completion of its acquisition by Arrow. 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
