Bulletin: TKO Worldwide Holdings LLC's Proposed $1 Billion Add-On Is Credit Neutral - S&P Global Ratings’ Credit Research

Bulletin: TKO Worldwide Holdings LLC's Proposed $1 Billion Add-On Is Credit Neutral

Bulletin: TKO Worldwide Holdings LLC's Proposed $1 Billion Add-On Is Credit Neutral - S&P Global Ratings’ Credit Research
Bulletin: TKO Worldwide Holdings LLC's Proposed $1 Billion Add-On Is Credit Neutral
Published Sep 02, 2025
3 pages (1545 words) — Published Sep 02, 2025
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Abstract:

This report does not constitute a rating action. BOSTON (S&P Global Ratings) Sept. 2, 2025--S&P Global Ratings today said TKO Worldwide Holdings LLC?s (TKO) proposed $1 billion incremental first-lien term loan add-on will not affect the 'BB' issue-level rating and '1' recovery rating on its term loan B due 2031. The company intends to use the incremental debt for general corporate purposes, which may include working capital and repurchases in connection with its previously announced share repurchase program. Despite the incremental debt, TKO's overall leverage is not materially affected because it expects strong growth after recent media rights renewals for the UFC and WWE that will materially accelerate revenue and EBITDA growth in 2026 as the new deals go into

  
Brief Excerpt:

...September 2, 2025 This report does not constitute a rating action. BOSTON (S&P Global Ratings) Sept. 2, 2025--S&P Global Ratings today said TKO Worldwide Holdings LLC's (TKO) proposed $1 billion incremental first-lien term loan add-on will not affect the '##' issue-level rating and '1' recovery rating on its term loan B due 2031. The company intends to use the incremental debt for general corporate purposes, which may include working capital and repurchases in connection with its previously announced share repurchase program. Despite the incremental debt, TKO's overall leverage is not materially affected because it expects strong growth after recent media rights renewals for the UFC and WWE that will materially accelerate revenue and EBITDA growth in 2026 as the new deals go into effect. ISSUE RATINGS--RECOVERY ANALYSIS...

  
Report Type:

Bulletin

Issuer
TKO Worldwide Holdings LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: TKO Worldwide Holdings LLC's Proposed $1 Billion Add-On Is Credit Neutral" Sep 02, 2025. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-TKO-Worldwide-Holdings-LLC-s-Proposed-1-Billion-Add-On-Is-Credit-Neutral-3433872>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: TKO Worldwide Holdings LLC's Proposed $1 Billion Add-On Is Credit Neutral Sep 02, 2025. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-TKO-Worldwide-Holdings-LLC-s-Proposed-1-Billion-Add-On-Is-Credit-Neutral-3433872>
  
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