Home Entertainment Live Nation Entertainment, Inc. — Moody’s announces completion of a periodic review of ratings of Live Nation Entertainment, Inc.

Live Nation Entertainment, Inc. — Moody’s announces completion of a periodic review of ratings of Live Nation Entertainment, Inc.

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Live Nation Entertainment, Inc. — Moody’s announces completion of a periodic review of ratings of Live Nation Entertainment, Inc.

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Announcement of Periodic Review: Moody’s announces completion of a periodic review of ratings of Live Nation Entertainment, Inc.

Global Credit Research – 02 Sep 2020

Toronto, September 02, 2020 — Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of Live Nation Entertainment, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody’s practice has been to issue a press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Key rating considerations are summarized below.

Live Nation Entertainment, Inc.’s B2 corporate family rating is constrained by significant negative impact of the coronavirus pandemic on its results, elevated leverage, and event risk of regulatory changes addressing its substantial market position, while it benefits from good liquidity, good market position, and good growth prospects post pandemic, especially in emerging markets.

This document summarizes Moody’s view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.

The principal methodology used for this review was Business and Consumer Service Industry published in October 2016. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.

This announcement applies only to EU rated and EU endorsed ratings. Non EU rated and non EU endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Peter Adu, CFA Vice President - Senior Analyst Corporate Finance Group Moody's Canada Inc. 70 York Street Suite 1400 Toronto, ON M5J 1S9 Canada JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Donald S. Carter, CFA MD - Corporate Finance Corporate Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Canada Inc. 70 York Street Suite 1400 Toronto, ON M5J 1S9 Canada JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653

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