Home Credit Ratings and Research S&P Global Ratings’ Credit Research Speedway Motorsports LLC

Summary: Speedway Motorsports Inc.

Published Sep 30, 2010

1771 words — Published Sep 30, 2010

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Abstract:

The 'BB' corporate credit rating on Speedway Motorsports Inc. is based on our expectation that the decline in NASCAR TV ratings will stabilize and that lease-adjusted total debt to EBITDA will not exceed 4x on a sustained basis. For the past two years, NASCAR's TV ratings declined modestly, in 2010 partly due to schedule conflicts with the Winter Olympics. However, NASCAR remains the second most popular sporting event on TV behind the NFL. TV ratings are important for the debt rating because track operators such as Speedway Motorsports derive a significant portion of their revenue from TV contracts. Lower TV ratings could result in lower TV revenue when the contract is up for renewal in 2014. Furthermore, track attendance tends

Brief Excerpt:

RESEARCH Summary: Speedway Motorsports Inc. Publication date: 30-Sep-2010 Primary Credit Analyst: Michael Listner, New York (1) 212-438-2788; michael_listner@standardandpoors.com Secondary Contact: Andy Liu, CFA, Chicago (1) 312-233-7052;...

Report Type:

Summary

Ticker

TRK

Issuer

Speedway Motorsports LLC

GICS

Leisure Facilities (25301030)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Speedway Motorsports $150M Senior Notes Rated 'BB' (Recovery Rating: 3) – 2011/01/20 – US$ 150.00

Research Update: Speedway Motorsports $150M Senior Notes Rated 'BB' (Recovery Rating: 3) – 2011/01/20 – US$ 225.00

Speedway Motorsports $250M Senior Secured Credit Facilities Rated 'BBB-' (Recovery Rating: 1) – 2011/02/09 – US$ 150.00

Speedway Motorsports Inc. – 2011/09/16 – US$ 500.00

Summary: Speedway Motorsports Inc. – 2011/09/16 – US$ 225.00

Speedway Motorsports Inc. – 2010/09/30 – US$ 500.00

Summary: Speedway Motorsports Inc. – 2010/03/30 – US$ 225.00

Speedway Motorsports Inc. – 2009/09/29 – US$ 500.00

Summary: Speedway Motorsports Inc. – 2009/09/29 – US$ 225.00

Speedway Motorsports Inc. Outlook Revised To Negative From Stable; Proposed $250M Senior Notes Rated 'BB', Recovery '3' – 2009/05/14 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Speedway Motorsports Inc." Sep 30, 2010. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Speedway-Motorsports-Inc-823527>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Speedway Motorsports Inc. Sep 30, 2010. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Speedway-Motorsports-Inc-823527>

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