Fitch affirms Sanmina-SCI

Fitch Ratings said it affirmed Sanmina-SCI Corp.'s B+ subordinated debt, BB+ first-lien senior secured bank credit facility and BB second-lien secured notes. The outlook is stable.

Fitch said the ratings reflect Sanmina's relatively high debt levels, less than optimal capacity utilization rates and customer concentration.

Additionally, Fitch said the contract-pricing environment remains pressured, particularly for traditional electronics manufacturing services, which continue to represent the majority of industry revenues despite efforts to expand service offerings.

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