...+ U.S. utility transmission and telecommunication support structures manufacturer Sabre Industries Inc. is being acquired by an affiliate of private equity firm The Jordan Company. + We are assigning a 'B' issue-level rating and a '3' recovery rating to a proposed $425 million first-lien term loan that will be used to fund the acquisition. The '3' recovery rating indicates our expectation of 50%-70% recovery (rounded estimate: 55%) in the event of default. + We are affirming the 'B' issuer credit rating on Sabre Industries, reflecting a highly leveraged, small, and narrowly focused manufacturing business that nonetheless produces relatively steady and predictable revenue. + The stable outlook signals our expectation for adjusted debt to EBITDA to be in the 5.0x to 5.5x range over the next 12 months, which is elevated relative to higher rated industrial peers but not when compared to many other private equity owned enterprises....
