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S&P: Sanmina-SCI still on watch
Standard & Poor's said it left its BB- corporate credit and other ratings on Sanmina-SCI Corp. on CreditWatch with negative implications, where they were placed on Aug. 14, following the receipt of various consents from most of its bondholders and other creditors.
Amended cure periods or waivers for filing financial statements expire between Oct. 10 and Dec. 14, the agency said, noting that based on the company's liquidity and overall financial profile, ratings are not affected at this time by cure periods that expire in October for some of its credit facilities.
The ratings could be lowered to the CCC category if financial statements are not filed and credit facilities with cure periods that expire in October are not refinanced or further extended, reflecting heightened concerns of debt acceleration, S&P added.
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