Fitch rates Fortress Investment BBB

Fitch Ratings said it assigned a long-term issuer default rating of BBB and short-term issuer default rating of F2 to Fortress Investment Group LLC, Fortress Operating Entity I LP and Principal Holdings I LP.

The outlook is stable.

Ratings reflect good cash flow generation, declining leverage and a sound capital base, the agency said.

Ratings are constrained by the absence of franchise revenue diversity, investment concentrations, susceptibility to clawbacks and declining incentive revenues, Fitch noted.

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