Relatively small size and scale of operations Product breadth limited to metal poles and towers used in electrical utility and cellular industries in the U.S. Well positioned in its niche markets, but a distant second to its larger competitor Favorable demand outlook for electric transmission and wireless communications end markets Financial sponsor-owned company with leverage expected to remain above 4x Sufficient EBITDA interest coverage of above 2x Adequate liquidity, supported by sizable cash balance and revolving credit facility availability Weighted average maturity of more than three years The stable outlook reflects our expectation that Sabre's operating performance will remain solid over the next 12 months, supported by favorable long-term demand trends for metal poles and towers from key transmission and
