Moody’s could lower SFX Entertainment

Moody's Investors Service said it placed SFX Entertainment, Inc.'s ratings on review for downgrade following the company's May 26 announcement of a "definitive merger agreement whereby an affiliate of Robert F.X. Sillerman, the company's chairman and chief executive officer, will acquire all the outstanding common stock of SFX that he does not already own."

The Caa1 corporate family rating, Caa1-PD probability of default rating, B1 first-lien revolving credit facility rating and Caa1 second-lien notes rating were placed on review for downgrade.

The speculative grade liquidity rating of SGL-3, indicating adequate liquidity, was affirmed.

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