Fitch sees rating Oaktree notes A

Fitch Ratings said it assigned an expected A rating to Oaktree Capital Management, LP's planned issuance of $200 million of 3.06% senior unsecured notes due 2037.

“The expected rating on the new senior unsecured notes is equalized with the ratings assigned to OCM's existing senior unsecured debt as the new notes will rank equally in the capital structure. The unsecured debt rating is equalized with the long-term issuer default rating (IDR), reflecting the wholly unsecured funding profile and average recovery prospects for unsecured creditors in a stressed scenario,” Fitch said in a press release.

The proceeds are expected to be used for general corporate purposes.

The outlook is stable.

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