...- On May 23, 2024, the U.S. Department of Justice (DoJ) filed an antitrust lawsuit against Live Nation Entertainment Inc. - The lawsuit is seeking to force Live Nation to divest from Ticketmaster Entertainment LLC and venues owned or operated by Live Nation Entertainment, as well as financial compensation and civil penalties among other claims for relief. - While the impact on the company and live events industry are uncertain, we believe Live Nation's operating performance could be hurt by the lawsuit. - As a result, we revised our outlook on Live Nation to negative from stable. We also revised our management and governance score to moderately negative from neutral. - At the same time, we affirmed all our ratings on Live Nation, including our '##-' issuer credit rating, and our issue-level ratings on the company's senior secured debt of '##' and unsecured debt of 'B+'. The recovery ratings remain '2' and '5', respectively. - The negative outlook reflects our view that the heightened regulatory...
