NEW YORK (Standard&Poor's) July 31, 2012--Standard&Poor's Ratings Services said today that it assigned its 'BB+' senior unsecured rating and '3' recovery rating to St. Petersburg, Fla.-based Jabil Circuit Inc.'s senior unsecured notes due 2022. The '3' recovery rating indicates our expectation for a meaningful (50%-70%) recovery of principal in the event of payment default. The company intends to use proceeds of the new notes to repay outstanding revolver balances and for general corporate purposes. Standard&Poor's 'BB+' corporate credit rating and positive outlook on Jabil remain unchanged and reflect the company's diversified end markets, consistent profitability despite difficult market conditions, increasing market share, and stable financial profile. We expect the company to continue to pursue
