NEW YORK (Standard&Poor's) May 4, 2006--Standard&Poor's Ratings Services said today that its ratings on St. Petersburg, Fla.-based Jabil Circuit Inc. (BBB-/Stable/--) currently are unaffected by recent reports regarding executive compensation and options-granting practices at the company. Jabil's board of directors, along with management, have completed a preliminary internal review of the company's option-granting policies and concluded that there was no wrongdoing, and that appropriate documentation was filed. Further, a special committee of the board has been established to review the allegations raised in a lawsuit filed against the company, its directors, and management alleging breach of fiduciary duty related to the timing of option grants. Lastly, the SEC has initiated an informal inquiry into the matter.
