S&P: Valmont up to stable

Standard & Poor's said it revised the outlook on Valmont Industries Inc. to stable from negative.

The agency also said it affirmed its BBB- corporate credit rating.

The outlook revision reflects expectations that Valmont's credit measures will remain at levels considered in line with investment-grade ratings, despite continued challenging nonresidential construction markets and rising commodity prices, especially steel, S&P said.

A recovery in utilities' investment in the electrical and transmission grid, increased demand for irrigation product prospects driven by higher crop prices and farm income and expanding industrial production should lead to an improvement in the company's earnings and overall credit measures, the agency said.

The company is expected to maintain its strong liquidity with high levels of balance sheet cash, S&P added.

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