Research Update: Brooklyn Arena Holding Company LLC's Debt Is Rated Preliminary 'B', Outlook Stable - S&P Credit Research

Research Update: Brooklyn Arena Holding Company LLC's Debt Is Rated Preliminary 'B', Outlook Stable

2057 words — Published Dec 11, 2009
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Abstract:

We assigned our preliminary 'B' rating to the Brooklyn Arena Holding Company LLC's (BAHC) senior secured notes of an amount up to $146.8 million that mature in 2017. Proceeds of the notes will be used to support the construction of a new multi-purpose arena in Brooklyn, N.Y., known as the Barclays Center, where the New Jersey Nets will be relocated. The rating on BAHC's debt reflects its reliance on residual distributions from its wholly owned subsidiary Brooklyn Events Center, LLC (BEC) and we base the rating on the consolidation of the debt of the two entities. On Dec. 11, 2009, Standard&Poor's Ratings Services assigned its preliminary 'B' rating to BAHC's senior secured notes of up to $146.8 million

  
Brief Excerpt:

RESEARCH Ratings Definitions Research Update: Brooklyn Arena Holding Company LLC's Debt Is Rated Preliminary 'B', Outlook Stable Publication date: 11-Dec-2009 Primary Credit Analyst: Trevor D'Olier-Lees, New York (1) 212-438-7985;...

  
Report Type:

Research Update

Issuer
Brooklyn Arena Holding Company LLC
Sector
Global Issuers, Public Finance
Country
Region
Format:
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MLA:
S&P Credit Research. "Research Update: Brooklyn Arena Holding Company LLC's Debt Is Rated Preliminary 'B', Outlook Stable" Dec 11, 2009. Alacra Store. Apr 23, 2014. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Brooklyn-Arena-Holding-Company-LLC-s-Debt-Is-Rated-Preliminary-B-Outlook-Stable-763008>
  
APA:
S&P Credit Research. (). Research Update: Brooklyn Arena Holding Company LLC's Debt Is Rated Preliminary 'B', Outlook Stable Dec 11, 2009. New York, NY: Alacra Store. Retrieved Apr 23, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Brooklyn-Arena-Holding-Company-LLC-s-Debt-Is-Rated-Preliminary-B-Outlook-Stable-763008>
  
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