Fitch affirms Ingram Micro

Fitch Ratings said it affirmed Ingram Micro Inc.'s BBB- issuer default rating. Fitch also said it assigned a BBB- rating to the company's senior unsecured credit facility. The company's BB+ rating on the senior subordinated notes, which were redeemed, is withdrawn.

The outlook is stable.

The ratings and outlook reflect Ingram Micro's leading market position in each of its operating regions; significant customer and product portfolio diversification as well as increasing geographic diversification, Fitch noted.

Ratings concerns continue to center on the relatively thin margins associated with the wholesale technology distribution model, which Fitch said it believes will remain between 1.0% and 1.5% over the longer term.

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