NEW YORK (Standard&Poor's) June 30, 2006--Standard&Poor's Ratings Services said today that its ratings on St. Petersburg, Fla.-based Jabil Circuit Inc. (BBB-/Stable/--) are not affected by the company's announcement that its board of directors has authorized the repurchase of up to $200 million worth of shares. The shares will be repurchased over the next year. With $855 million in cash as of May 31, 2006, the company has sufficient liquidity to meet operational needs while funding the program. Additionally, the company continues to generate discretionary cash flow, about $84 million for the nine months ended May. Still, the company is absorbing a number of modest operational challenges, including a recent earnings disappointment and a multi-year, $200 million
