Summary: Speedway Motorsports Inc. - S&P Global Ratings’ Credit Research

Summary: Speedway Motorsports Inc.

Summary: Speedway Motorsports Inc. - S&P Global Ratings’ Credit Research
Summary: Speedway Motorsports Inc.
Published Sep 03, 2014
1927 words — Published Sep 03, 2014
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Highly competitive event-driven business model. Susceptibility of much of its revenue base to the economic cycle. Compares unfavorably to its large competitor International Speedway in terms of track and event diversity. Good revenue visibility from contracted NASCAR broadcasting revenue. Debt to EBITDA in the low-3x area and EBITDA coverage of interest expense of over 5x through 2015. Adequate liquidity. The stable rating outlook on Speedway Motorsports Inc. reflects Standard&Poor's Ratings Services' view that a high proportion of contractually increasing and recurring revenues from broadcasting through 2014 and 2015 can partly offset a slow recovery in admissions revenue, and support credit measures consistent with the significant financial risk assessment and our 'BB' rating. We could lower our rating if

  
Brief Excerpt:

RESEARCH Summary: Speedway Motorsports Inc. Publication date: 03-Sep-2014 Primary Credit Analyst: Emile J Courtney, CFA, New York (1) 212-438-7824; emile.courtney@standardandpoors.com Secondary Contact: Shivani Sood, New York (1)...

  
Report Type:

Summary

Ticker
TRK
Issuer
Speedway Motorsports LLC
GICS
Leisure Facilities (25301030)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Speedway Motorsports Inc." Sep 03, 2014. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Speedway-Motorsports-Inc-1356952>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Speedway Motorsports Inc. Sep 03, 2014. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Speedway-Motorsports-Inc-1356952>
  
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