On June 30, 2004, Standard&Poor's Ratings Services assigned its 'B+' rating to Speedway Motorsports Inc.'s Rule 144A offering of $100 million 6.75% senior subordinated notes due 2013. The offering is an addition to the company's 2003 $230 million senior subordinated notes issue. Also, Standard&Poor's affirmed its ratings on Speedway Motorsports, including its 'BB' corporate credit rating. The rating outlook remains positive. The ratings on Speedway Motorsports reflect its good market position in the motor sports industry, its relatively stable operating performance, and a moderate capital structure. The company is one of the two largest companies hosting races sanctioned by National Association for Stock Car Racing (NASCAR). High construction costs and a limited number of racing dates
