We investigate a state dependent multicast routing algorithm called least load multicast routing (LLMR), for single rate loss networks. The algorithm is based on least load routing (LLR) concept and the approach is to select the least load links for establishing connections. The networks considered are assumed fully connected. In addition, connection requests are Poisson arrival and the holding times of accepted calls are exponentially distributed. The analytical model that we developed for calculating the blocking probabilities is based on the link independence assumption and the reduced load approximation (RLA). Analytical results are compared with simulation results and the agreement is surprisingly good. We find that the effect of link independence assumption is insignificant for the analytical model.