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S&P lifts Sabre Industries
S&P said it raised its corporate credit rating on Sabre Industries Inc. to B from B-.
The outlook is stable.
At the same time, the agency raised its issue-level ratings on the company's $45 million revolving credit facility due 2020 and $255 million term loan due 2022 to B+ from B. The recovery rating remains 2, indicating an expectation of substantial (70%-90%; rounded estimate: 75%) recovery in the event of a payment default.
S&P said the upgrade reflects the sustained improvement in Sabre's operating results due to increased volume (particularly in its utility structures segment), combined with favorable pricing across its segments.
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