On Feb. 12, 2009, Standard&Poor's Ratings Services lowered its corporate credit rating on San Jose, Calif.-based Sanmina-SCI Corp. to 'B-' from 'B+'. The rating outlook is stable. The action reflects deteriorating profitability levels, which are likely to persist for at least the next few quarters and resulting high leverage, offset to a limited degree by the company's top-tier business position in low-volume, complex EMS end markets and relatively stable operating performance. Sanmina-SCI Corp. is a leading provider of electronics manufacturing services (EMS) for the high-end computing, telecommunications, and data communications industries. The company had about $1.6 billion in lease-adjusted debt as of Dec. 31, 2008. The company's core EMS business serves lower-volume, complex manufacturing needs of the telecommunications,
