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Sanmina-SCI faces potential downgrade by Moody’s on poor operating results
August 21, 2007
Moody's Investors Service placed the ratings of Sanmina-SCI Corp (NASDAQ:SANM) on review for a possible downgrade. Moody's is citing Sanmina-SCI's continued poor operating results.
The hyper-competitive electronics manufacturing services (EMS) industry continues to be plagued by excess global capacity; competitive pricing pressures, ongoing business restructurings, and difficulty in differentiating service offerings among EMS providers competing for OEM business.
Downgrading a company is not uncommon. During the year 2002, Moody's downgraded far more companies than it upgraded.
Source: Moody's Investors Services, VentureOutsource.com
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