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Fitch gives Blue Owl notes BBB
Fitch Ratings said it assigned an expected unsecured debt rating of BBB to the planned unsecured notes issuance by Blue Owl Finance LLC, which is an indirect, wholly-owned finance subsidiary of Blue Owl Capital Inc.
“The expected rating on the new senior unsecured notes is equalized with the ratings assigned to Blue Owl Finance LLC's existing senior unsecured debt as the new notes will rank equally in the capital structure. The unsecured debt rating is equalized with Blue Owl's long-term issuer default rating (IDR) and reflects the largely unsecured funding profile and expectations for average recovery prospects in a stress scenario,” Fitch said in a press release.
The proceeds are expected to be used for general corporate purposes.
The outlook is stable.
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