...NEW YORK (S&P Global Ratings) Oct. 19, 2016--S&P Global Ratings today assigned its '##' issue-level ratings and '2' recovery rating to Beverly Hills, Calif.-based Live Nation Entertainment Inc.'s proposed $1.53 billion senior secured credit facility, which consists of a $365 million revolving credit facility due 2021, a $190 million term loan A due 2021, and a $975 million term loan B due 2023. The '2' recovery rating indicates our expectation for substantial recovery (70%-90%; upper half of the range) of principal in the event of a payment default. The company will use the net proceeds from the debt issuance to repay the outstanding balance on its existing term loan A due 2018 and term loan B due 2020 ($1.01 billion outstanding), repay the existing revolving credit facility, and for general corporate purposes. Our '##-' corporate credit rating on Live Nation incorporates the company's strong competitive position in the live entertainment industry and its leading market share in event ticketing...
