On Nov. 8, 2006, Standard&Poor's Ratings Services affirmed its ratings, including its 'B+' corporate credit rating, on Live Nation Inc., and removed the ratings from CreditWatch, where they were placed with negative implications on Aug. 14, 2006. At the same time, Standard&Poor's affirmed its ratings on indirect wholly owned subsidiary Live Nation Worldwide Inc.'s senior secured bank loans, and assigned identical ratings to the company's $200 million term loan add-on to its existing senior secured term loan facilities. The facilities are assigned a 'B+' bank loan rating, at the same level as the corporate credit rating, with a recovery rating of '3', indicating expectation for meaningful (50%-80%) recovery of principal in the event of a payment
