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Prospect News home > News index > List of issuers K > Headlines for KKR Real Estate Finance Trust Inc. > News item |
S&P rates KKR Real Estate, loan BB-
S&P said it assigned its BB- ratings to KKR Real Estate Finance Trust Inc. and its proposed $300 million senior secured term loan.
KKR Real Estate is exposed to transitional commercial real estate loans and has relatively high leverage compared with other rated CRE lenders, and a mostly encumbered balance sheet with financial covenants and margin call risk on its secured repurchase facilities, S&P said.
The outlook is negative. The outlook reflects the possibility the company’s investment performance could suffer over the next 12 months amid current challenging operating conditions.
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