NEW YORK (Standard&Poor's) August 15, 2012--Standard&Poor's Ratings Services said today that its 'BB-' issue-level rating and '2' recovery rating on Beverly Hills, Calif.-based Live Nation Entertainment Inc.'s existing $800 million term loan B due 2016 remain unchanged following the proposed $100 million add-on term loan. The '2' recovery rating indicates our expectation for substantial (70%-90%) recovery in the event of a payment default. In addition, we assigned our 'B' issue-level rating and '5' recovery rating to the company's proposed $225 million senior notes due 2020. The '5' recovery rating indicates our expectation for modest (10%-30%) recovery in the event for a payment default. We expect the company to use proceeds from incremental term loan and the
