ENTERTAINMENT & MEDIA

S&P; Downgrades Carolco Debt Ratings: Standard & Poor’s Corp. said it downgraded ratings on the studio’s senior unsecured debt to triple-C-plus and subordinated debt to triple-C. A total of $82 million in debt was affected. In addition, S&P; downgraded to triple-C-plus subordinated debt of $110 million associated with Live Entertainment, which is 53% owned by Carolco. S&P; said it lowered the ratings because of “concerns regarding the two companies’ financing arrangements and ability to fund operations.”