Live Nation Entertainment has been hit with a credit rating downgrade from S&P Global Ratings. The research firm on Wednesday reduced the concert promoter's rating to B+, from BB-, with a negative outlook, as it argued a prolonged postponement or cancellation of concerts and other events risked "dramatic revenue declines," which in turn would drive up Live Nation's debt load. "We … believe there is substantial risk that delayed live music event scheduling and poor event attendance could cause credit metrics to remain weak with leverage above 6x and free operating cash flow to debt around 5 percent over the next two years," S&P Global analysts wrote in an investors note.