SAN FRANCISCO (Standard&Poor's) July 10, 2015--Standard&Poor's Ratings Services today assigned its 'BBB-' issue-level rating to St. Petersburg, Fla.-based outsourced manufacturer Jabil Circuit Inc.'s $500 million senior unsecured delayed draw term loan due 2020. At the same time, we affirmed our 'BBB-' issue-level rating on Jabil's amended $1.5 billion senior unsecured revolving credit facility due 2020. The company extended the maturity of its revolving credit facility to 2020 from 2019. Jabil will use proceeds from the delayed draw term loan for general corporate purposes. Our 'BBB-' corporate credit rating and stable rating outlook on the company are unchanged. The rating reflects Jabil's good market position within the outsourced manufacturing industry, its focus on higher-margin and faster-growing industry
