S&P lowers Endeavor Operating

S&P said it downgraded Endeavor Operating Co. LLC and its subsidiary WME IMG Holdings LLC’s first-lien credit facilities to CCC+ from B.

“The downgrade of Endeavor to CCC+ reflects significant anticipated stress on revenue and cash flow because of the company's exposure to events and production, which could result in a potentially unsustainable capital structure,” said S&P in a press release.

The outlook is negative.

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