NEW YORK (Standard&Poor's) Sept. 11, 2002--Standard&Poor's Ratings Services said today that it lowered its corporate credit and senior secured bank loan ratings on Sanmina-SCI Corp to double-'B' from double-'B'-plus and its subordinated note ratings to single-'B'-plus from double-'B'-minus. The rating actions were based on subpar operating performance leading to weaker credit measures and the likelihood that credit measures will remain pressured in the near term due to weak end-market conditions. The outlook is negative. San Jose, Calif.-based Sanmina-SCI is a leading provider of electronic manufacturing services for the computing, telecommunications and data communications industries. It had $2.6 billion of debt outstanding at June 30, 2002. Credit measures are considerably weaker than anticipated, primarily due to a
