NEW YORK (S&P Global Ratings) Oct. 2, 2019--S&P Global Ratings today assigned its 'BB' issue-level rating and '2' recovery rating to Beverly Hills, Calif.-based Live Nation Entertainment Inc.'s proposed $1.85 billion senior secured credit facility. The secured credit facility consists of a new $500 million revolver due 2024, a $400 million delayed draw term loan A due 2024, and a $950 million term loan B due 2026. The '2' recovery rating indicates our expectation for substantial recovery (70%-90%; rounded estimate: 80%) of principal in the event of a payment default. We also assigned a 'B+' issue-level rating and '5' recovery rating to Live Nation's proposed $950 million unsecured notes due 2027. The '5' recovery rating indicates our expectation for modest
