Fitch assigns Owl Rock Capital II BBB-

Fitch Ratings said it assigned a first-time long-term issuer default rating of BBB- to Owl Rock Capital Corp. II. Fitch also assigned a senior unsecured debt rating of BBB- to the company's outstanding unsecured debt. The outlook is stable.

The ratings reflect Owl Rock's strong and experienced management team, broad sponsor relationships, lower portfolio concentrations relative to rated peer business development companies, above-average exposure to first-lien investments and appropriate leverage.

Fitch said it believes the company's access to deal flow benefits from its ability to co-invest with other funds managed by Owl Rock Capital Advisors LLC, such as Owl Rock Capital Corp., given exemptive order relief from the Securities and Exchange Commission.

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