Apollo Global Management LLC is a leading global alternative investment manager, with more than $159 billion of assets under management and a more than 23-year track record of strong investment returns. We are assigning our 'A' long-term issuer credit rating to Apollo Global Management LLC, Apollo Management Holdings L.P., and certain of its affiliates. We are also assigning our 'A' issue rating to the existing term loan and revolver. The stable outlook reflects our expectation that the firm will maintain modest leverage and stable assets under management but that carried interest realizations will likely taper off over the next 18 months. On May 15, 2014, Standard&Poor's Ratings Services assigned its 'A' long-term issuer credit rating to Apollo Global
