S&P ups Zuffa, rates loan BB

Standard & Poor's said it raised the corporate credit rating on Zuffa LLC to BB from BB-, along with its existing senior secured credit facilities to BB from BB-.

The agency also said it assigned BB issue-level and 4 recovery ratings to the company's $25 million incremental revolving credit facility executed in November 2010. The 4 recovery rating indicates 30% to 50% recovery in a default.

The outlook is stable.

The upgrade reflects the company's strong operating trends, improved profitability from international events and good credit measures, S&P said.

The ratings also reflect the company's vulnerability to changing consumer preferences, susceptibility to variability in discretionary spending and management's aggressive financial policy, the agency said.

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