Moody's rates Blackstone Private Credit Fund Baa3

Moody's Investors Service said it assigned Baa3 long-term issuer and senior unsecured notes ratings to Blackstone Private Credit Fund (Bcred), a business development company externally managed by Blackstone Credit BDC Advisors LLC, a subsidiary of the Blackstone Group Inc.

Moody's assigned a Baa3 long-term issuer rating to Bcred based on the financial and operational benefits to the company from its management by its advisor, including investment and funding opportunities, underwriting and risk management and Blackstone's strong experience as an investor in private credit,” the agency said in a press release.

The Baa3 rating for the unsecured notes is based on the notes' priority within the fund’s capital structure, the agency said.

The outlook is stable.

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