Today, Standard & Poor’s released its latest credit report on Zuffa LLC that documented the corporation’s latest financing initiatives. Below is a summary of the report’s action: Zuffa requested an additional $100 million in incremental term loans to help pay off part of the existing revolving credit line and fund a dividend to the owners […]
financial
Highlights from the Latest S&P Report on Zuffa
In depth analysis to follow, but the highlights from the latest report: COMPANY REMAINS EVENT DRIVEN – Revenue breakdown remains at 75/25 event (pay-per-view, gate) to non-event (television rights fees, sponsorships, etc), but the successful launch of the video game as well as recent improvement in the sponsorship portfolio has the potential to improve that […]
Zuffa Announces New $100M Term Loan
Las Vegas-based mixed martial arts sporting event promoter and producer Zuffa LLC announced a proposed $100 million incremental term loan due 2015. We are assigning our ‘BB-‘ issue rating and ‘4’ recovery rating to this loan, and revising our recovery rating on Zuffa’s existing credit facilities to ‘4’ from ‘3’. We are affirming the ‘BB-‘ […]
UFN 19 Estimated Economic Impact
Steve Lackmeyer wrote an article for NewsOK this week that focused on the business aspects of the UFC’s impending visit to Oklahoma City on Wednesday for Ultimate Fight Night 19: Diaz vs. Guillard. The article offered the following tidbit related to UFN 19’s estimated economic impact: Laura Kriegel, director of marketing and communications at the […]
Station Casinos Inc. Downgraded To ‘D’ On Bankruptcy Filing
— Station filed for Chapter 11 bankruptcy protection. — We lowered our issue-level rating on the company’s senior secured debt to ‘D’. — We revised our recovery rating on the company’s senior unsecured notes to ‘5’ from ‘4’. NEW YORK, July 29, 2009–Standard & Poor’s Ratings Services said today it lowered its issue-level rating on […]