U.S. EMS provider Sanmina's sales have been recovering as industry conditions improve, with revenues having increased 28% year on year. Cost-reduction actions have led to improved EBITDA margins, 5.2% in the March 2010 quarter. March quarter debt leverage was 4.3x, part of a decreasing trend, and could continue to improve. We are raising the corporate credit rating to 'B' from 'B-' and revising the outlook to positive from stable. The positive outlook reflects the possibility of further improvement in leverage metrics over the intermediate term. On May 26, 2010, Standard&Poor's Ratings Services raised its corporate credit rating on San Jose, Calif.-based Sanmina-SCI Corp. (Sanmina) to 'B' from 'B-'. The action reflects improved operating profitability and leverage, as a
