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Avnet Inc.
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Top-tier position in global components distribution industry (along with Arrow Electronics Inc.); Geographic and customer diversity; and Successful use of acquisitions in a consolidating industry. Highly competitive, relatively low-value-added industry; and Variable profitability resulting from volatile industry demand. The rating on Phoenix-based Avnet Inc. reflects the company's strong market position. Highly competitive industry conditions and a volatile global technology spending environment offset this strength. With fiscal 2010 annual revenues (ending June) exceeding $19 billion, Avnet is one of the leading global distributors of electronic components and computer products. The company has a history of successfully using acquisitions to enhance its market position and supplier base. The company's focus on cost controls and the realization of synergies from acquisitions have bolstered...
Companies mentioned in this report are: Avnet Inc.
Action: Review
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