Moody's rates Sabre Industries loan B2

Moody's Investors Service said it assigned initial ratings to Sabre Industries, Inc., including a corporate family rating of B2 and probability of default rating of B2-PD.

Moody's also said it assigned a B2 (LGD 3) rating to the company's $65 million first-lien senior secured revolving credit facility and $425 million first-lien senior secured term loan.

The outlook is stable.

The proceeds from the proposed debt facilities, together with an equity contribution, will fund the proposed acquisition of Sabre by the private equity fund, the Jordan Co., Moody's said.

The ratings on the company's existing debt will be withdrawn once it is repaid.

The ratings reflect the company's position as one of the leaders in its niche markets within the utility and telecom industries with expanded service capabilities, the agency said.

The company possesses a healthy backlog that should further top line revenue growth and EBITDA generation, Moody's added.

Favorable industry dynamics, particularly in the utility business, should sustain this improvement, the agency said.

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