NEW YORK (Standard&Poor's) Aug. 14, 2006--Standard&Poor's Ratings Services said today that it placed its 'B+' corporate credit and bank loan ratings and '3' recovery rating on Live Nation Inc. on CreditWatch with negative implications. "The action is based on our concerns about rising financial risk resulting from a continuing series of acquisitions," said Standard&Poor's credit analyst Heather M. Goodchild. "We are now less confident that debt to EBITDA will decline in line with our previous expectations." Beverly Hills, Calif.-based Live Nation, successor to SFX Entertainment Inc., is an entertainment producer and promoter. Standard&Poor's will reevaluate the company's business and financial strategies, operating outlook, and future acquisition strategies, in resolving the CreditWatch listing.
