S&P ups some Ticketmaster debt to BBB-

Standard & Poor's said it upgraded Ticketmaster's (BB+/stable) senior secured debt rating to BBB- and changed the recovery rating to 2 from 1.

"We revised the ratings to reflect a new proposed mix of secured and unsecured debt financing to support Ticketmaster's spinoff from IAC/InterActiveCorp.," S&P analyst Andy Liu said in a written statement.

Changes include a planned $100 million increase to its term B loan facility due 2014 and a $100 million decrease in the size of senior notes due 2016.

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