Bulletin: Sabre Industries Inc.'s $85 Million Add-On To Pay Down Debt Is Neutral For Credit Quality - S&P Global Ratings’ Credit Research

Bulletin: Sabre Industries Inc.'s $85 Million Add-On To Pay Down Debt Is Neutral For Credit Quality

Bulletin: Sabre Industries Inc.'s $85 Million Add-On To Pay Down Debt Is Neutral For Credit Quality - S&P Global Ratings’ Credit Research
Bulletin: Sabre Industries Inc.'s $85 Million Add-On To Pay Down Debt Is Neutral For Credit Quality
Published Jan 25, 2024
2 pages (994 words) — Published Jan 25, 2024
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Abstract:

ENGLEWOOD (S&P Global Ratings) Jan. 25, 2024--S&P Global Ratings said today that Texas-based producer of engineered structures for electric transmission and distribution company Sabre Industries Inc.'s (B-/Stable/--) plan to pay down its second-lien term loan with proceeds from a $85 million add-on to its first-lien term loan is neutral for credit quality. As such, the ratings on Sabre are unchanged. Our issue-level rating on the $940 million outstanding first-lien term loan due 2028 is 'B-'. The '3' recovery rating indicates our expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. Our 'B-' rating and '3' recovery rating on the company's $150 million cash flow revolver due 2026 are unchanged. For more information, see the

  
Brief Excerpt:

...January 25, 2024 ENGLEWOOD (S&P Global Ratings) Jan. 25, 2024--S&P Global Ratings said today that Texas-based producer of engineered structures for electric transmission and distribution company Sabre Industries Inc.'s (B-/Stable/--) plan to pay down its second-lien term loan with proceeds from a $85 million add-on to its first-lien term loan is neutral for credit quality. As such, the ratings on Sabre are unchanged. Our issue-level rating on the $940 million outstanding first-lien term loan due 2028 is 'B-'. The '3' recovery rating indicates our expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. Our 'B-' rating and '3' recovery rating on the company's $150 million cash flow revolver due 2026 are unchanged. For more information, see the full analysis published May 26, 2023....

  
Report Type:

Bulletin

Ticker
SABR
Issuer
Sabre Industries Inc.
GICS
Communications Equipment (45201020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Sabre Industries Inc.'s $85 Million Add-On To Pay Down Debt Is Neutral For Credit Quality" Jan 25, 2024. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Sabre-Industries-Inc-s-85-Million-Add-On-To-Pay-Down-Debt-Is-Neutral-For-Credit-Quality-3117459>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Sabre Industries Inc.'s $85 Million Add-On To Pay Down Debt Is Neutral For Credit Quality Jan 25, 2024. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Sabre-Industries-Inc-s-85-Million-Add-On-To-Pay-Down-Debt-Is-Neutral-For-Credit-Quality-3117459>
  
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