NEW YORK (Standard&Poor's) July 10, 2007--Standard&Poor's Ratings Services said today that it assigned a 'B' rating to $200 million of senior convertible notes due 2027 proposed by the concert promoter, producer, and venue operator for live entertainment, Live Nation Inc. (B+/Negative/--), which is analyzed on a consolidated basis with its operating subsidiary, Live Nation Worldwide Inc. We expect proceeds from the proposed notes issuance to be used to repay the outstanding balance on Live Nation's existing credit facility, to pay down a portion of the existing term loan B, and for general corporate purposes. Pro forma for the proposed transaction, Beverly Hills, Calif.-based Live Nation had $884 million of total debt outstanding, including preferred stock and
