U.S. electronic manufacturing services (EMS) provider Sanmina Corp. is redeeming the remaining $157.4 million of its senior notes due 2014. We expect leverage to be below 3x at fiscal year-end Sept. 30, 2013, down from about 3.5x as of Dec. 31, 2012. We are affirming our 'B+' corporate credit rating, and revising the outlook to positive from stable. The positive outlook reflects our expectation that new business opportunities should result in modest revenue and EBITDA growth in the second half of 2013. On Feb. 1, 2013, Standard&Poor's Ratings Services affirmed its 'B+' corporate credit rating on San Jose, Calif.-based Sanmina Corp., and revised the outlook to positive from stable. The outlook revision reflects our expectation that Sanmina will
