NEW YORK (Standard&Poor's) Oct. 19, 2009--On Oct. 15, 2009, Sanmina-SCI Corp. (B-/Stable/--) called for the redemption all of the $175.7 million outstanding of its senior floating-rate notes due 2010 on Oct. 15. Standard&Poor's Ratings Services said that the announcement would not affect its corporate credit rating on the company. The redemption moderately deleverages the company, but the lower cash balance reduces the company's financial flexibility by a comparable amount. Sanmina-SCI's pro forma leverage for the June quarter annualized was 8.7x, while its pro forma leverage for the four quarters through June 2009 was 7.9x. The company's pro forma cash balance at June 30, 2009, was $702 million, and the company generated moderate amounts of free cash
