Moody’s views Valmont positively

Moody’s Investors Service said it changed its outlook for Valmont Industries, Inc. to positive from stable and affirmed its ratings including the Baa3 senior unsecured notes for its 5% and 5.25% senior unsecured notes due 2044 and 2054, respectively.

“The change in the outlook to positive reflects Moody's expectation that Valmont will maintain a solid credit profile underpinned by healthy margins and cash generation. Moody's expects the company's debt/EBITDA to be maintained below 2.5x over the next 12-18 months.

“The positive outlook also reflects Moody's expectation that Valmont's operating margin will be maintained in excess of 10% during that timeframe. Moody's also expects that the company will maintain a well-balanced capital allocation policy balancing both debt and equity holder interests,” the agency said in a press release.

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