Fitch rates KKR Group notes A

Fitch Ratings said it assigned an A rating to the €650 million 1.625% senior unsecured notes due May 22, 2029 issued by KKR Group Finance Co. V LLC, an indirect subsidiary of KKR & Co. Inc.

The debt rating is equalized with KKR's long-term issuer default rating, reflecting its fully unsecured funding profile, Fitch said.

The rating also reflects that the notes rank equally with existing and future senior unsecured notes issued by KKR, the agency said.

Balance sheet leverage remains low on an absolute basis and relative to the peer group, Fitch said.

The ratings also incorporate an expectation that cash flow leverage may remain higher than the peer average due its low balance sheet leverage and strong liquidity profile, the agency said.

The unsecured debt rating is linked to the issuer default rating and is expected to move in tandem, Fitch said.

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