Fitch rates Apollo Principal A-

Fitch Ratings said it assigned an A- long-term issuer default rating to Apollo Principal Holdings XII, LP.

The outlook is positive.

Apollo Principal is an operating subsidiary of Apollo Global Management LLC.

The long-term issuer default rating of Apollo Principal Holdings XII is equalized with those of Apollo, and other subsidiaries in the group.

The ratings reflect the company's strong competitive position as a global alternative investment manager, experienced management team, solid investment track record and large investor base, Fitch said.

Rating constraints include many limited partnership agreements, reputational risk, the agency said, and legal and regulatory risk.

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