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S&P rates Owl Rock notes BBB-
S&P said it assigned a BBB- debt rating to Owl Rock Core Income Corp.'s planned senior unsecured notes due 2028.
Owl Rock Core’s BBB- ratings were last reviewed on March 27.
The company intends to use the proceeds to pay down the debt on its revolver and SPV asset facility I, which had outstanding amounts of $541 million and $550 million, respectively, as of April 30.
“We view this transaction to be leverage neutral and expect leverage to stay between 0.9x-1.25x,” S&P said in a press release.
The outlook is stable.
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