S&P: Kennedy Wilson notes BB-

Standard & Poor's said it assigned a BB- long-term counterparty credit rating to Kennedy-Wilson Holdings Inc.

The agency also said it assigned a BB- rating to the proposed $200 million of senior unsecured notes to be issued by principal subsidiary, Kennedy-Wilson Inc., and guaranteed by Kennedy-Wilson Holdings and its U.S.-based subsidiaries.

The outlook is stable.

The ratings reflect the company's solid investment performance, strong niche position serving financial institutions and its liquidity management, S&P said.

The company's geographic concentrations, its overall small market share and modest EBITDA coverage limit the rating, the agency said.

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