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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.
While Sanmina filed its 10-Q for the period ending July 1 by the Dec. 14 deadline, the company has filed for a 15-day extension to file its 2006 10-K, now due Dec. 29, S&P said.
Should the company be unable to file within that deadline, the agency said it will review the reaction of the bondholders and creditors under the October 2006 term loan to determine any rating impact.
The company's securitization programs and lenders under the company's revolving credit have granted waivers to file through Jan. 10 and possibly longer depending on any extension granted by the bondholders, the agency noted.
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