S&P rates Anschutz notes B

Standard & Poor's said it assigned its B rating to Anschutz Southern California Sports Complex LLC's $125 million senior secured notes due 2014.

S&P said it considers the Home Depot Center renewal risk to be higher than Staples Center due to its limited operating history and the risks associated with the long-term viability of Major League Soccer.

S&P said the company's financial forecast indicates interest coverage of a minimum of 3.3x.

S&P said there is a chance of temporary loss of the residual cash flow from the Staples Center if it does not maintain a minimum 1.25x debt service coverage on a prospective basis, which would trigger a provision of the Staples notes requiring that cash be trapped at the L.A. Arena Funding level.

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