Fitch sees rating KKR notes A

Fitch Ratings said it assigned an expected A rating to KKR Group Finance XI LLC’s planned senior unsecured notes. The size, coupon and maturity will be determined at the time of issuance. The issuer is a unit of KKR & Co. Inc.

“The rating on the proposed unsecured notes is equalized with KKR's existing unsecured debt as the issuance will rank equally in the capital structure. The unsecured debt rating is equalized with KKR's Long-Term IDR, reflecting its fully unsecured funding profile and expectations for average recovery prospects of the notes under a stressed scenario, given joint and several guarantees by KKR and its subsidiary, KKR Group Partnership L.P., which collects all of the firm's revenues,” Fitch said in a statement.

The outlook is stable.

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