NY -- Standard&Poor's CreditWire 5/13/98 -- Standard&Poor's today lowered the corporate credit, senior debt, and bank loan ratings of Arrow Electronics Inc. to single-'A'-minus from single-'A'. The ratings were removed from CreditWatch, where they were placed with negative implications on March 18, 1998. The downgrade reflects Standard&Poor's view that Arrow's moderate, but weaker-than-expected financial profile is likely to be sustained given the cyclicality of the electronic components market and highly competitive industry conditions. 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
