Fitch lowers Sanmina-SCI

Fitch Ratings said it downgraded Sanmina-SCI Corp.'s senior unsecured notes to BB- with a recovery rating of RR3 from BB with a recovery rating of RR2.

The agency also affirmed its issuer default rating at B+ and senior secured credit facility at BB+ with a recovery rating of RR1.

The agency also revised the outlook to stable from positive.

The outlook revision reflects recent revenue declines associated with customer order pushouts and general end-market softness, which have delayed any potential margin expansion, Fitch said.

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