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19.09.2016 16:57:00
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Tech Data Corporation -- Moody's affirms Tech Data's Baa3 ratings, changes outlook to negative on acquisition announcement
New York, September 19, 2016 -- Moody's Investors Service ("Moody's") affirmed Tech Data Corp.'s Baa3 senior unsecured rating, but changed the rating outlook to negative from stable, upon the company's announcement that it will acquire Avnet, Inc.'sTechnology Solutions business for $2.4 billion in cash and $200 million in equity. Moody's expects Tech Data to fund the cash portion of the acquisition with new debt and cash on hand.
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