Live Nation Entertainment has been hit with a credit rating downgrade from S&P Global Ratings. The research firm on Wednesday reduced the concert promoter's rating to B+, from BB-, with a negative outlook, as it argued a prolonged postponement or cancellation of concerts and other events risked "dramatic revenue declines," which in turn would drive up Live Nation's debt load. "We … believe there is substantial risk that delayed live music event scheduling and poor event attendance could cause credit metrics to remain weak with leverage above 6x and free operating cash flow to debt around 5 percent over the next two years," S&P Global analysts wrote in an investors note.
Read more on hollywoodreporter.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.