Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Z > Headlines for Zuffa LLC > News item |
S&P lowers Zuffa to negative
Standard & Poor’s said it revised the outlook on Zuffa LLC to negative from stable.
The agency also said it affirmed all of its ratings, including its BB- corporate credit rating.
The negative outlook revision reflects an updated forecast for 2014 EBITDA, with it now declining to about 40% due to a change to a marquee fight card in the fourth quarter of 2014, S&P said.
Another fighter injury has caused anticipated pay-per-view buys and event-ticket prices to decline further, as well as higher remarketing expenses for the event, the agency said.
The negative outlook reflects a belief that Zuffa’s operating performance will deteriorate significantly this year, resulting in very weak leverage in the high-5x range in 2014, S&P said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.