Fitch: KKR outlook negative

Fitch Ratings said it revised the rating watch on the B rated secured liquidity note programs of KKR Atlantic Funding Trust & KKR Pacific Funding Trust's to negative from evolving.

Fitch noted that it originally downgraded KKR Atlantic and KKR Pacific to B from F1+ and subsequently placed both programs on rating Watch Evolving on Aug. 15 following the breach of their overcollateralization tests.

Fitch said it believes that the most likely resolution of the standstill agreement will ultimately be a restructuring that will result in an additional extension in the maturity of liabilities in order to avoid a liquidation of the collateral under current market conditions.

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