U.S. electronic manufacturing services provider Jabil Circuit has a new $1.3 billion senior unsecured revolver. We are assigning a 'BB+' issue-level rating with a '3' recovery rating to the revolver. We are also affirming our 'BB+' corporate credit rating on the company. The positive rating outlook reflects the potential for an upgrade if Jabil can sustain leverage at current levels for the current fiscal year, while maintaining adequate liquidity and moderate financial policies. NEW YORK (Standard&Poor's) April 5, 2012--Standard&Poor's Rating Services said today that it assigned its 'BB+' issue-level credit rating to St. Petersburg, Fla.-based electronic manufacturing services (EMS) provider Jabil Circuit Inc.'s new $1.3 billion senior unsecured revolving credit facility. At the same time, we
