Bulletin: TKO Worldwide Holdings LLC's Proposed $900 Million First-Lien Term Loan Add-On Is Supported By Its Media Rights Renewals

This report does not constitute a rating action. BOSTON (S&P Global Ratings) March 4, 2026--S&P Global Ratings today said that TKO Worldwide Holdings LLC's (B+/Stable/--) proposed $900 million incremental first-lien term loan add-on will not affect the 'BB' issue-level rating or '1' recovery rating on the company's term loan B due 2031. TKO intends to use the proceeds from the incremental debt for general corporate purposes, which we expect will include funding share repurchases under its previously announced repurchase program. We expect the company will partially offset the incremental debt by increasing its earnings in 2026, supported by the recent renewal of its media rights for the UFC and WWE. ISSUE RATINGS--RECOVERY ANALYSIS Key analytical factors TKO is controlled by

...March 4, 2026 This report does not constitute a rating action. BOSTON (S&P Global Ratings) March 4, 2026--S&P Global Ratings today said that TKO Worldwide Holdings LLC's (B+/Stable/--) proposed $900 million incremental first-lien term loan add-on will not affect the '##' issue-level rating or '1' recovery rating on the company's term loan B due 2031. TKO intends to use the proceeds from the incremental debt for general corporate purposes, which we expect will include funding share repurchases under its previously announced repurchase program. We expect the company will partially offset the incremental debt by increasing its earnings in 2026, supported by the recent renewal of its media rights for the UFC and WWE. ISSUE RATINGS--RECOVERY ANALYSIS Key analytical factors...

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