Top-tier electric manufacturing services (EMS) business position; Customer base of leading OEMs; and Solid core EMS operation. Personal computing business, about one-third of the company, is underperforming; Negative discretionary cash flow impairing liquidity; and Leveraged financial profile. The ratings on San Jose, Calif.-based Sanmina-SCI Corp. reflect continued erosion of profit measures, diminished liquidity, and high leverage. These concerns partly are offset by the company's top-tier business position in low volume, complex electronic manufacturing services (EMS) end markets and stable operating performance in that division. Sanmina-SCI is a leading provider of EMS for the computing, telecommunications, and data communications industries, generating sales of about $10.8 billion for the 12 months ended March 31, 2007. The company had about $2 billion in
