NEW YORK (S&P Global Ratings) Nov. 5, 2026--S&P Global Ratings today assigned its'BB'issue-level rating and'1'recovery rating to TKO Worldwide Holdings LLC’s (a subsidiary of Endeavor Group Holdings Inc. ) proposed $1 billion senior secured notes due 2031. The'1'recovery rating indicates our expectation for very high (90%-100%; rounded estimate: 90%) recovery for lenders in a hypothetical default scenario. The company will use proceeds from the issuance for general corporate purposes, which may include share repurchases under its previously announced share repurchase program. The issue-level rating on the company’s senior secured term loan B-7 remains'BB'with a'1'recovery rating. Our'B+'issuer credit rating and stable ratings outlook on Endeavor remain unchanged. For the
