Fitch upgrades Blue Owl Capital

Fitch Ratings said it upgraded the long-term issuer default ratings of Blue Owl Capital Inc. (Blue Owl) and Blue Owl Finance LLC, which is an indirect finance subsidiary of Blue Owl, to BBB+ from BBB. Fitch has also upgraded Blue Owl Finance's senior unsecured debt rating to BBB+ from BBB.

“The ratings upgrade reflects enhanced product diversity for Blue Owl in recent years, partially driven by the acquisitions of Oak Street Real Estate Capital, LLC in 2021 and Wellfleet Credit Partners, LLC in 2022.

“The ratings also reflect solid execution against financial projections since the merger of Owl Rock Capital Group and Dyal Capital Partners in May 2021, resulting in strong fee-earning assets under management (FAUM) growth and an above-average fee-related EBITDA (FEBITDA) margin,” Fitch said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.