J P M O R G A N North America Credit Research 06 August 2026 TTM Technologies M&A in Focus TTM posted yet another set of record results, bolstered by "megatrends" in AI and defense. But in the quarter, management turned its attention to M&A, limiting upside for creditors. See page 3 for analyst certification and important disclosures. ▼Underweight | Previous: Neutral | | | | | --- | --- | --- | --- | | TTMI | | | | | Moody's: | Ba2 | Outlook: | STABLE | | S&P: | BB | Outlook: | POS | | The above agency rati ...