Ares Management L.P.'s Proposed 10-Year Senior Unsecured Notes Rated 'A-'

NEW YORK (Standard&Poor's) Oct. 1, 2014--Standard&Poor's Ratings Services today said it assigned its 'A-' issue rating on Ares Management L.P.'s (Ares) proposed 10-year senior unsecured note issuance due 2024. The size of the offering has not been finalized and will be subject to market conditions, but, for the purposes of our rating, we are assuming the amount will be between $250 million and $300 million. Ares intends to use the proceeds from the notes, which its indirect subsidiary Ares Finance Co. LLC will issue, to pay down approximately $164 million of outstanding borrowings on its revolving credit facility ($150 million) and the remaining balance on its promissory notes issued in connection with a prior acquisition ($14

...NEW YORK (Standard & Poor's) Oct. 1, 2014--Standard & Poor's Ratings Services today said it assigned its 'A-' issue rating on Ares Management L.P.'s (Ares) proposed 10-year senior unsecured note issuance due 2024. The size of the offering has not been finalized and will be subject to market conditions, but, for the purposes of our rating, we are assuming the amount will be between $250 million and $300 million. Ares intends to use the proceeds from the notes, which its indirect subsidiary Ares Finance Co. LLC will issue, to pay down approximately $164 million of outstanding borrowings on its revolving credit facility ($150 million) and the remaining balance on its promissory notes issued in connection with a prior acquisition ($14 million). Ares will use the remaining proceeds for general corporate purposes, which could include strategic acquisitions or other growth initiatives, including an identified acquisition target. Ares announced that it has entered into a nonbinding letter of intent...

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