Research Update: Speedway Motorsports Inc. Outlook Revised To Stable From Negative; All Other Ratings Affirmed Feb 12

Standard & Poors, February 2012

Abstract
The rate of decline of Speedway Motorsports' admissions revenue moderated over the course of 2011 and we expect that overall revenue and EBITDA were flat in 2011. We are revising our rating outlook to stable from negative and affirming our 'BB' corporate credit rating on the company. The stable rating outlook reflects our view that attendance levels could begin to stabilize in 2012, which, together with a sizable recurring base of broadcasting revenues, should result in credit measures remaining in line with the 'BB' rating. On Feb. 7, 2012, Standard & Poor's Ratings Services revised its rating outlook on Charlotte, N.C.-based Speedway Motorsports Inc. (SMI) to stable from negative. At the same time, we affirmed our 'BB' corporate credit rating...

Companies mentioned in this report are: Speedway Motorsports Inc.
Action: Affirmed
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Speedway Motorsports Inc.

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