On Jan. 10, 2008, Standard&Poor's Ratings Services assigned its 'BBB-' rating to St. Petersburg, Fla.-based Jabil Circuit Inc.'s proposed $300 million senior unsecured notes. At the same time, Standard&Poor's affirmed its 'BBB-' corporate credit rating and negative outlook on Jabil. Proceeds will be used to refinance the borrowings under its revolving credit facility that represent the remaining balance of the Green Point acquisition. The rating reflects the company's diversified end markets and higher profitability than the majority of its peers, offset by competitive industry conditions, leverage that remains high for the rating and financial policies that are somewhat aggressive. Jabil is a leading provider of electronics manufacturing services to such leading OEMs as Koninklijke Philips Electronics
