On May 24, 2007, Standard&Poor's Ratings Services raised its ratings on Speedway Motorsports Inc. (Speedway), including its corporate credit rating, to 'BB+' from 'BB'. At the same time, we assigned a recovery rating of '1' and raised the bank loan rating on the company's amended revolving credit facility to 'BBB-' from 'BB', one notch higher than the corporate credit rating on Speedway. A recovery rating of '1' indicates the expectation for full (100%) recovery in the event of a payment default. The amendment increased the size of the revolving credit agreement to $400 million from $250 million, and extended the maturity date to 2010 from 2008. The rating outlook is stable. The upgrade of the corporate credit rating
