Jabil Inc.'s Unsecured Notes Rated 'BBB-'

NEW YORK (S&P Global Ratings) Jan. 8, 2020--S&P Global Ratings today assigned a 'BBB-' rating to St. Petersburg, Fla.-based contract manufacturer Jabil Inc.'s proposed unsecured notes. The rating is the same as our issuer credit rating on Jabil because the company's capital structure consists of only senior unsecured debt issued at the parent level and there are no significant elements of subordination. We expect the company to use the proceeds after underwriting expenses and fees to repay a portion of the term loan facilities maturing in August 2020 and/or November 2022. Our 'BBB-' issuer credit rating reflects Jabil's leading market position in the global outsourced technology manufacturing industry and focus on higher-margin and faster-growing end markets. It also reflects the

...January 8, 2020 NEW YORK (S&P Global Ratings) Jan. 8, 2020--S&P Global Ratings today assigned a '###-' rating to St. Petersburg, Fla.-based contract manufacturer Jabil Inc.'s proposed unsecured notes. The rating is the same as our issuer credit rating on Jabil because the company's capital structure consists of only senior unsecured debt issued at the parent level and there are no significant elements of subordination. We expect the company to use the proceeds after underwriting expenses and fees to repay a portion of the term loan facilities maturing in August 2020 and/or November 2022. Our '###-' issuer credit rating reflects Jabil's leading market position in the global outsourced technology manufacturing industry and focus on higher-margin and faster-growing end markets. It also reflects the cyclical and competitive industry conditions, Jabil's significant customer concentrations, and its greater capital intensity than technology hardware peers. The stable outlook reflects our expectation...

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