On Oct. 26, 2007, Standard&Poor's Ratings Services assigned its 'BBB-' rating to St. Petersburg, Fla.-based Jabil Circuit Inc.'s proposed $400 million senior unsecured notes. At the same time, Standard&Poor's affirmed its 'BBB-' corporate credit rating on Jabil. The outlook is negative. Proceeds from the senior unsecured notes will be used to refinance existing borrowings under a bridge facility. The rating on Jabil 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 somewhat aggressive financial policies. Jabil is a leading provider of electronics manufacturing services to such leading OEMs as Koninklijke Philips Electronics N.V., Nokia Corp., and Hewlett-Packard
