S&P affirms Flextronics

Standard & Poor's said it affirmed its BB+ corporate credit rating, along with other ratings, on Flextronics International Ltd.

The agency said it also revised the outlook to stable from negative.

"Flextronics' ratings reflect very competitive industry conditions and a continuing industry trend toward aggressive cost reduction," said credit analyst Bruce Hyman.

The company's top-tier industry position, good cash flows and liquidity, and profitability and leverage metrics that are in line with the rating all offset those factors, S&P noted.

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