S&P gives KKR notes A

S&P said it assigned its A issue rating to KKR Group Finance Co. IV LLC's ¥40 billion senior notes.

The issuer credit rating on KKR & Co. LP is A with a stable outlook.

“Pro forma for the transaction, we expect leverage to remain within our existing expectations of below 0.5x and interest coverage to change minimally versus 2017 levels (about 10x),” the agency said in a news release.

S&P said the rating on KKR reflects the firm's long successful investing track record, high level of fee-paying assets under management that's locked up for multiyear periods and broad platform that has increased significantly in scale and scope over the past several years.

It also reflects the firm's low leverage, solid asset coverage and strong liquidity, the agency said.

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