On March 9, 2021, S&P Global Ratings said today it affirmed its 'A-' issuer credit rating on Apollo Global Management Inc. The outlook remains stable. We also affirmed our 'A-' unsecured debt rating and our 'BBB' rating on the company's preferred stock and subordinated debt. The announced merger of Apollo and Athene would create a group that would be split roughly equally between asset management and insurance on an earnings basis. Although our 'A-' issuer credit rating on Apollo is slightly lower than our 'A' financial strength rating on Athene, we think the merger of the two organizations will result in a group with an 'a-' group credit profile. We consider that successful execution of Athene's strategy calls for it
