Fitch views Ingram Micro positively

Fitch Ratings said it revised the outlooks for Ingram Micro Holding Corp. and its subsidiary Ingram Micro, Inc. to positive from stable and affirmed both companies' BB- long-term issuer default ratings (IDR).

The agency said it also affirmed Ingram's outstanding $3.5 billion asset-based loan revolving credit facility at BB+/RR1 and its $2 billion term loan B and $2 billion senior secured notes at BB+/RR2.

“The positive outlook is based on Fitch's expectation that Ingram will continue to pay down debt and achieve EBITDA growth over the next few years, which would support de-leveraging to below 4x on a sustained basis,” the agency said in a press release.

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