Sanmina Corp. Upgraded To 'BB' On Improved Operating Performance And Debt Reduction; Outlook Stable

U.S. electronic manufacturing services (EMS) provider Sanmina Corp.'s operating performance has improved, the company has reduced its debt, and we expect it to sustain leverage below 2x. We are raising our corporate credit rating on Sanmina Corp. to 'BB' from 'BB-'. We are also raising our rating on Sanmina's senior secured debt to 'BB+' from 'BB'. The stable outlook incorporates our expectation that Sanmina's improved financial risk profile will provide ratings support, despite the ongoing potential for operating performance volatility. NEW YORK (Standard&Poor's) Oct. 30, 2014--Standard&Poor's Ratings Services today said it raised its corporate credit rating on San Jose, Calif.-based Sanmina Corp. to 'BB' from 'BB-'. The outlook is stable. At the same time, we raised

...+ U.S. electronic manufacturing services (EMS) provider Sanmina Corp.'s operating performance has improved, the company has reduced its debt, and we expect it to sustain leverage below 2x. + We are raising our corporate credit rating on Sanmina Corp. to '##' from '##-'. + We are also raising our rating on Sanmina's senior secured debt to '##+' from '##'. + The stable outlook incorporates our expectation that Sanmina's improved financial risk profile will provide ratings support, despite the ongoing potential for operating performance volatility. NEW YORK (Standard & Poor's) Oct. 30, 2014--Standard & Poor's Ratings Services today said it raised its corporate credit rating on San Jose, Calif.-based Sanmina Corp. to '##' from '##-'. The outlook is stable. At the same time, we raised our rating on Sanmina's senior secured debt to '##+' from '##'. The recovery rating remains '2', indicating our expectation of substantial (70% to 90%) recovery in the event of a payment default. "The upgrade reflects...

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