S&P lowers Sanmina-SCI

Standard & Poor's said it lowered the corporate credit rating on Sanmina-SCI Corp. to B- from B+.

The outlook is stable.

"The action reflects deteriorating profitability levels, which are likely to persist for at least the next few quarters and resulting high leverage, offset to a limited degree by the company's top-tier business position in low-volume, complex EMS end markets and relatively stable operating performance," S&P analyst Bruce Hyman said in a statement.

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