NEW YORK (Standard&Poor's) Nov. 6, 2007--Standard&Poor's Ratings Services said today that Speedway Motorsports Inc.'s (BB+/Stable/--) agreement to purchase the New Hampshire International Speedway for $340 million in cash does not affect the company's rating or outlook. The acquisition productively deploys financial capacity into earning assets and improves cash flow diversity slightly by increasing the number of the company's tracks to seven. Pro forma debt leverage will rise to roughly 2.9x from 1.8x if the transaction is entirely debt-financed. Pro forma leverage will decline if the company uses a portion of its cash balances, which stood at $155 million at June 30, 2007, to help finance the acquisition. Speedway has a sufficient cushion against its credit agreement's
