S&P pulls KKR from watch

S&P said today it affirmed its KKR & Co. Inc.’s A ratings, BBB+ on its preferred stock and removed all ratings from CreditWatch, where they were placed on with negative implications on July 8. The outlook is stable.

KKR reported closing of its acquisition of Global Atlantic Financial Group Ltd. for roughly $4.7 billion. “Following the acquisition, we anticipate leverage will remain below 1.75x – the downside trigger for KKR,” the agency said in a press release.

The outlook reflects an expectation KKR's leverage will remain below 1.75x over the next 18-24 months while the company continues to show good investment performance, fundraising and a strong balance sheet, S&P said.

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