S&P: Solectron unaffected

Standard & Poor's said its ratings on Solectron Corp. (B+/positive) will not be affected by the company's announcement that it has approved a 12-month, $250 million share repurchase program.

The agency said Solectron's liquidity is strong for the rating, with cash of $1.6 billion as of May 31 and can comfortably accommodate the share repurchase program.

S&P said it expects Solectron to retain a strong liquidity profile and share repurchases, as well as other opportunities to enhance shareholder value, are expected to be modest and have no impact on leverage improvements.

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