12/4/2009
NEWS BRIEFS
Anixter Credit Ratings Upgraded

Anixter International Inc. had its ratings outlook upgraded to “stable” from “negative” by Fitch Ratings, the Associated Press reports.

The ratings agency also affirmed its “BB+” issuer default rating and “BB-” senior unsecured debt rating on Anixter.

Anixter reported sales at its North American OEM Supply segment, including fasteners, turned in the company’s “best sales performance in North America … where continuing softness with aerospace customers was partially offset by a small amount of growth with industrial customers,” stated CEO Robert Eck.

OEM Supply sales in North America declined 8% to $128.8 million during the third quarter of 2009.

European OEM Supply sales, including fasteners, dropped 34% to $98.9 million during Q3, though “sales in this market were flat sequentially from the second to the third quarter,” Eck stated.

Nine-month OEM Supply sales in North America slipped 3% to $372 million, with segment sales in Europe falling 37% to $303.2 million. ©2009 GlobalFastenerNews.com

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