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Article: Fitch Affirms STAPLES Center 'A' Rating.
- Article from:
- Business Wire
- Article date:
- March 3, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--March 3, 2003
Fitch Ratings today affirmed the 'A' rating on the L.A. Arena Company, LLC's $304,420,000 arena revenue-backed notes, series 1999. The Rating Outlook is Stable. The L.A. Arena Company is the obligor for all debt service payments. Security is the assigned revenue rights from the STAPLES Center naming rights agreement with Staples Inc., from its ten corporate founding partner agreements, two concessionaire agreements, premier seat revenues, its ticket-sales contract, and luxury suite license revenues of 101 of the STAPLES Center's 160 luxury suites. The notes were issued in 1999 and proceeds were ...