Mix stabilizer blend with the granulated sugar. Add sugar/stabilizer blend to the water and heat under good agitation for 5 min at 160 F. Remove mixture from heat and add fat while stirring. Place powdered sugar in a Hobart mixer with a paddle stirrer. Pour approximately 2/3 of the hot syurp into the Hobart mixer and heat constantly in a hot water bath at 180 F. Stir until a smooth, stiff paste is formed. Add remaining syurp and mix until smooth. Apply to donuts while icing is hot.