NEW YORK (Standard&Poor's CreditWire) Sept. 8, 2000--Standard&Poor's today assigned its single-'B'-plus rating to Sanmina Corp.'s $1.66 billion zero coupon convertible subordinated debentures due 2020 that will result in gross proceeds to the company of $751 million. At the same time, Standard&Poor's affirmed Sanmina's double-'B' corporate credit and single-'B'-plus convertible subordinated note ratings. The outlook is stable. San Jose, Calif.-based Sanmina is a leading electronic manufacturing services (EMS) provider, primarily serving the telecommunications and data communications industries. Ratings reflect risks associated with Sanmina's acquisitive growth strategy in the highly competitive electronics industry. These concerns are only partially offset by consistent operating performance, solid industry position, and moderate financial profile. Sales of Sanmina doubled to nearly
