NEW YORK (Standard&Poor's) Oct. 28, 2010—Standard&Poor's Ratings Services said today it assigned its 'BB+' senior unsecured rating and '4' recovery rating to St. Petersburg, Fla.-based Jabil Circuit Inc.'s senior unsecured notes due 2020. The '4' recovery rating indicates our expectation for average (30%-50%) recovery of principal in the event of payment default. The company intends to use proceeds of the new notes primarily to repay term debt outstanding under its existing credit facility. "The rating on Jabil," said Standard&Poor's credit analyst Molly Toll-Reed, "reflects our expectation that the company will sustain annualized revenue and EBITDA growth in the near term. Ratings also reflect the company's diversified end markets and consistent profitability despite difficult market
