Standard&Poor's Ratings Services' 'BB' rating on Speedway Motorsports Inc. reflects the company's concentrated earnings profile and uncertainty regarding the earnings potential of its Kentucky Speedway LLC acquisition. The company's good market position in the motorsports industry, high barriers to entry, and good credit measures despite recent operating volatility are positives. The rating outlook is negative. Speedway Motorsports is the smaller of two major companies that host auto races sanctioned by NASCAR. The same family that controls NASCAR also controls Rival International Speedway Corp. High-margin broadcasting and sponsorship contracts account for the majority of Speedway Motorsports' EBITDA and represent stabilizing factors for revenues and EBITDA. For the quarter ended Dec. 31 2009, revenues and EBITDA decreased 30.7% and 41.8%,
