NEW YORK (Standard&Poor's) Oct. 26, 2007--Standard&Poor's Ratings Services said today it assigned its 'BBB-' rating to St. Petersburg, Fla.-based Jabil Circuit Inc.'s proposed $400 million senior unsecured notes. At the same time, Standard&Poor's affirmed its 'BBB-' corporate credit rating on Jabil. The outlook is negative. Proceeds from the senior unsecured notes will be used to refinance existing borrowings under a bridge facility. "The rating on Jabil reflects the company's diversified end markets and higher profitability than the majority of its peers," said Standard&Poor's credit analyst Lucy Patricola. "These factors are offset by competitive industry conditions, leverage that remains high for the rating, and somewhat aggressive financial policies." Jabil is a leading provider
