On Aug. 19, 2005, Standard&Poor's Ratings Services raised its corporate credit and senior unsecured ratings on St. Petersburg, Fla.-based Jabil Circuit Inc. to 'BBB-' from 'BB+', based on sustained, stable operating performance and expectations for continued moderate financial policies. The outlook is stable. Despite highly competitive industry conditions, Jabil has continued to expand its revenue base by about 20% for the 12 months ended May 31, 2005, while sustaining EBITDA margins and generating free cash flow. The company's growth strategies are expected to remain primarily organic, supplemented with modest acquisitions. The rating reflects good operational performance, a growing EMS market position, and a lightly levered balance sheet, offset by competitive industry conditions and some customer concentration. Jabil is
