NEW YORK (Standard&Poor's) March 13, 2013--Standard&Poor's Ratings Services today revised its recovery rating on Speedway Motorsport Inc.'s 8.75% senior notes due 2016 and 6.75% senior notes due 2019 to '5', indicating our expectation for modest (10% to 30%) recovery for noteholders in the event of a payment default, from '3' (50% to 70% recovery expectation). In accordance with our notching criteria, we subsequently lowered our issue-level rating on the notes to 'BB-' from 'BB'. The issue-level rating was removed from CreditWatch, where it was placed with negative implications on Jan. 8, 2013. The downgrade reflects the closing of the company's $100 million add-on to its existing 6.75% notes and a new $350 million first-lien facility, consisting
