Moody’s gives Jabil notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to Jabil Inc.'s proposed $400 million ten-year senior note offering.

All other ratings, including the Ba1 corporate family rating, Ba1-PD probability of default rating and SGL-1 speculative grade liquidity rating, are unchanged.

The outlook remains positive.

Proceeds will be used primarily to redeem the outstanding 8.25% notes due March 2018.

The agency said it views the refinancing as credit positive for Jabil given the transaction will save the company more than $15 million annually in cash interest expense and extend this near-term maturity by 10 years.

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