On Dec. 5, 2002, Standard&Poor's Ratings Services lowered its corporate credit rating on Sanmina-SCI Corp to 'BB-' from 'BB' and its subordinated note ratings to 'B' from 'B+'. At the same time, Standard&Poor's assigned a 'BB' bank loan rating to the proposed $250 million senior secured credit facility due 2007, and a 'BB-' rating to the proposed $450 million of senior secured notes due 2009. The previous senior secured bank loan rating is withdrawn. The ratings outlook is stable. Total debt is $2.1 billion. The rating action is based on weak credit measures for the rating and the likelihood that profitability will remain depressed over the intermediate term, largely due to sluggish demand in major end
