Fitch rates Blackstone notes A+

Fitch Ratings said it gave an A+ rating to $900 million of unsecured notes offered by Blackstone Holdings Finance Co. LLC, a subsidiary of the Blackstone Group Inc.

The notes will be offered in two tranches: $500 million 2.5% notes due January 2030 and $400 million 3.5% notes maturing in September 2049.

Proceeds are expected to be used to refinance $400 million of unsecured notes maturing in March 2021 and for general corporate purposes, which could include the funding of co-investment commitments to funds, the agency said.

The notes are rated the same as Blackstone’s other senior unsecured debt.

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