NEW YORK (S&P Global Ratings) Oct. 26, 2016--S&P Global Ratings today assigned its 'B+' issue-level rating and '5' recovery rating to Beverly Hills, Calif.-based Live Nation Entertainment Inc.'s $575 million senior unsecured debt due 2024. The '5' recovery rating indicates our expectation for modest recovery (10%-30%; upper half of the range) of principal in the event of a payment default. Our 'BB-' 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 (via its subsidiary Ticketmaster). The rating also reflects our expectation for continued growth in Live Nation's high-margin sponsorship and advertising (both in traditional and digital/mobile) businesses, and the company's monetization of its music-related
