Ingram Micro Inc -- Moody's places Ingram Micro's ratings on review for downgrade following acquisition announcement

New York, February 18, 2016 -- Moody's Investors Service ("Moody's") placed the ratings of Ingram Micro Inc. ("Ingram Micro") on review for downgrade following the announcement that Tianjin Tianhai, a subsidiary of HNA Group (HNA), reached a definitive agreement to acquire the equity of Ingram Micro for $6.0 billion in cash. The companies did not announce whether Ingram's existing debt will be refinanced or assumed in connection with the closing of the acquisition. The acquisition is expected to close in the second half of 2016, following customary regulatory reviews.

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