On April 16, 2004, Standard&Poor's Ratings Services revised its outlook on Jabil Circuit Inc. to positive from stable. The outlook revision reflects the company's good operational performance and its growing electronics manufacturing services (EMS) market position following the integration of several acquisitions. Ratings on the company, including the 'BB+' corporate credit rating, were affirmed. Jabil Circuit is a leading provider of EMS to such leading original equipment manufacturers (OEMs) as Koninklijke Philips Electronics N.V., Cisco Systems Inc., and Hewlett-Packard Co. St. Petersburg, Fla.-based Jabil Circuit had about $865 million in total debt outstanding, including operating leases and securitizations, at February 2004. Ratings reflect operational challenges associated with supplying volatile electronics end-markets, as well as customer concentration. These are
