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Moody's rates Owl Rock Core Income Baa3
Moody's Investors Service said it assigned a first-time Baa3 long-term issuer rating to Owl Rock Core Income Corp. (Orcic). As of Sept. 30, Orcic had $1.4 billion in investments, up from $14 million as of year-end 2020.
“Orcic's Baa3 long-term issuer rating reflects the benefits to creditors from its strong capitalization and largely secured investment portfolio with a high proportion of first-lien loans (84% of investments as of 30 September 2021), which Moody's expects will exhibit lower fair value and earnings volatility compared to more junior investments,” the agency said in a press release.
The outlook is stable.
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