Sabre Industries Inc. Rating Lowered To 'B-', Outlook Stable; Debt Ratings Lowered To 'B'

U.S.-based engineered support structure manufacturer Sabre Industries Inc. is experiencing higher-than-expected debt leverage due to persistently weak steel prices and a more competitive bid market. We are lowering our corporate credit rating on Sabre to 'B-' from 'B' to reflect credit measures that are more consistent with the lower rating. At the same time, we are lowering our issue-level ratings on the company's $65 million revolving credit facility and $255 million term loan to 'B' from 'B+'. Our recovery rating on these senior secured facilities is unchanged at '2'. The stable outlook reflects our view that Sabre will continue to realize operational and cost-related synergies following the acquisition of FWT LLC last year, which should partially offset the weak pricing

...+ U.S.-based engineered support structure manufacturer Sabre Industries Inc. is experiencing higher-than-expected debt leverage due to persistently weak steel prices and a more competitive bid market. + We are lowering our corporate credit rating on Sabre to 'B-' from 'B' to reflect credit measures that are more consistent with the lower rating. + At the same time, we are lowering our issue-level ratings on the company's $65 million revolving credit facility and $255 million term loan to 'B' from 'B+'. Our recovery rating on these senior secured facilities is unchanged at '2'. + The stable outlook reflects our view that Sabre will continue to realize operational and cost-related synergies following the acquisition of FWT LLC last year, which should partially offset the weak pricing environment. NEW YORK (Standard & Poor's) April 11, 2016--Standard & Poor's Ratings Services said today it lowered its corporate credit rating on Alvarado, Texas-based Sabre Industries Inc. to 'B-' from 'B'....

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