S&P rates Tikehau Capital BBB-

S&P said it rated Tikehau Capital SCA BBB-.

“Our rating on Tikehau Capital reflects its modest, albeit steadily growing, size in the global alternative asset management market and its modest balance sheet leverage. Tikehau Capital is mostly active in Europe, with greater presence in its home market, France. That said, it has accelerated its international expansion both in Europe and globally, with offices in Asia and New York,” the agency said in a press release.

The stable outlook reflects an expectation that Tikehau Capital will pursue its growth strategy and a forecast of adjusted EBITDA to interest coverage above 6x and adjusted debt to average tangible equity below 0.8x, S&P said.

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