S&P still may cut Ticketmaster, up Live Nation

Standard & Poor's said Ticketmaster Entertainment Inc.'s BB corporate credit rating will remain on CreditWatch with negative implications, where it was placed on Feb. 11 following the company's announcement of an all-stock merger agreement with Live Nation Inc.

Live Nation's B corporate credit rating remains on CreditWatch with positive implications.

Under the deal, Ticketmaster would become a wholly owned subsidiary of Live Nation. With the proposed scenario of separate capital structures, the agency noted that Ticketmaster's credit agreement and its other financial resources limit its ability to provide credit support to Live Nation.

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