NEW YORK (Standard&Poor's) Dec. 5, 2002--Standard&Poor's Ratings Services said today that it lowered its corporate credit rating on Sanmina-SCI Corp to 'BB-' from 'BB' and its subordinated note ratings to 'B' from 'B+'. At the same time, Standard&Poor's assigned a 'BB' bank loan rating to the proposed $250 million senior secured credit facility due 2007, and a 'BB-' rating to the proposed $450 million of senior secured notes due 2009. The previous senior secured bank loan rating is withdrawn. The ratings outlook is stable. Total debt is $2.1 billion. The rating action is based on weak credit measures for the rating and the likelihood that profitability will remain depressed over the intermediate term, largely
