Home Credit Ratings and Research S&P Global Ratings’ Credit Research Ares Management Corp.

Ares Management L.P.

Published Jul 11, 2014

4344 words — Published Jul 11, 2014

Price US$ 500.00 | Buy this Report Now

About This Report

Abstract:

Stable cash flows due to predominantly locked-in management fees Strong investment performance and well-executed business strategy Diversified revenue streams within four business lines Solid financial profile underpinned by strong interest coverage and low debt leverage Concentration in credit-focused business products On-balance-sheet liquidity that is lower than peers' Short track record in real estate debt The rating on Ares Management L.P. reflects the company's stable cash flows from management fees and strong investment performance. Additional ratings support comes from the company's diversified revenue streams among its four lines of business and its solid financial profile underpinned by low debt leverage and strong interest coverage. Negative rating factors include Ares Management's on-balance-sheet liquidity that is lower than peers', its high concentration in

Brief Excerpt:

RESEARCH Ares Management L.P. Publication date: 11-Jul-2014 Primary Credit Analyst: Sebnem Caglayan, CFA, New York (1) 212-438-4054; sebnem.caglayan@standardandpoors.com Secondary Contact: Chris C Cary, New York (1) 212-438-1894;...

Report Type:

Full Report

Ticker

0966269D

Issuer

Ares Management Corp.

GICS

Asset Management & Custody Banks (40203010)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Ares Management L.P.'s Proposed 10-Year Senior Unsecured Notes Rated 'A-' – 2014/10/01 – US$ 150.00

Ares Management Downgraded To 'BBB+' On Expected Increase In Leverage From Proposed Merger With Kayne Anderson Capital – 2015/07/31 – US$ 150.00

Research Update: Ares Management Downgraded To 'BBB+' On Expected Increase In Leverage From Proposed Merger With Kayne Anderson Capital – 2015/07/31 – US$ 225.00

Ares Management L.P. Outlook Revised To Positive Following Cancellation Of Planned Merger; 'BBB+' Ratings Affirmed – 2015/11/05 – US$ 150.00

Research Update: Ares Management L.P. Outlook Revised To Positive Following Cancellation Of Planned Merger; 'BBB+' Ratings Affirmed – 2015/11/05 – US$ 225.00

Summary: Ares Management L.P. – 2014/07/11 – US$ 225.00

Ares Management L.P. Assigned 'A-' Issuer Credit Rating; Outlook Is Stable – 2014/06/17 – US$ 150.00

Research Update: Ares Management L.P. Assigned 'A-' Issuer Credit Rating; Outlook Is Stable – 2014/06/17 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Ares Management L.P." Jul 11, 2014. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ares-Management-L-P-1346233>

APA:	S&P Global Ratings’ Credit Research. (). Ares Management L.P. Jul 11, 2014. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ares-Management-L-P-1346233>

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