Fitch affirms Jabil

Fitch Ratings said it affirmed the issuer default rating and outstanding debt ratings of Jabil Circuit, Inc. as follows: issuer default rating BB+, senior unsecured revolving credit facility BB+ and senior unsecured debt BB+.

The outlook is stable.

The agency said that the ratings and outlook reflect that Fitch expects leverage, estimated to be 2.3 times or 3.1x when adjusted for off-balance sheet debt and operating leases for the latest !2 months ended May 31, will decline closer to 2.0x over the next few quarters.

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