...April 7, 2021 NEW YORK (S&P Global Ratings) April 7, 2021--S&P Global Ratings today assigned its '###-' rating to St. Petersburg, Fla.-based contract manufacturer Jabil Inc.'s proposed unsecured notes. We expect the company to use the net proceeds for general corporate purposes, including to repay the outstanding $300 million of term loans due in January 2025. Our '###-' issuer credit rating on Jabil is unchanged. It reflects the company's leading market position in the global outsourced technology manufacturing industry and focus on higher-margin and faster-expanding end markets. The rating also reflects the cyclical and competitive industry conditions, as well as Jabil's significant yet improving customer concentrations, further offset by broadening end-market diversification. Jabil reduced adjusted leverage to the high-1x area in the second fiscal quarter ended Feb. 28, 2021, from strong revenue growth and higher profitability, down from the low- to mid-2x area at the end of the last...
