Research Update: Blue Owl Capital 'BBB' Rating Affirmed On Strong Operating Performance Albeit Increased Leverage; Outlook Remains Stable - S&P Global Ratings’ Credit Research

Research Update: Blue Owl Capital 'BBB' Rating Affirmed On Strong Operating Performance Albeit Increased Leverage; Outlook Remains Stable

Research Update: Blue Owl Capital 'BBB' Rating Affirmed On Strong Operating Performance Albeit Increased Leverage; Outlook Remains Stable - S&P Global Ratings’ Credit Research
Research Update: Blue Owl Capital 'BBB' Rating Affirmed On Strong Operating Performance Albeit Increased Leverage; Outlook Remains Stable
Published Aug 22, 2022
5 pages (2121 words) — Published Aug 22, 2022
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Blue Owl reported strong results with assets under management (AUM) increasing to $119 billion as of June 30, 2022, compared with $62 billion a year ago owing to strong fundraising, capital deployment, and acquisitions. Our inclusion of the tax receivable agreement (TRA) liability raised the weighted average adjusted leverage to 2x-3x compared with 1.2x-1.4x (excluding the liability). We affirmed our 'BBB' issuer credit rating on Blue Owl Capital and our 'BBB' unsecured debt rating. The stable outlook reflects our expectation that over the next 18-24 months, the company will continue to meaningfully grow its fee-paying AUM and earnings while sustaining leverage of 2.0-3.0x. On Aug. 22, 2022, S&P Global Ratings affirmed its 'BBB' issuer credit rating on Blue Owl Capital.

  
Brief Excerpt:

...- Blue Owl reported strong results with assets under management (AUM) increasing to $119 billion as of June 30, 2022, compared with $62 billion a year ago owing to strong fundraising, capital deployment, and acquisitions. - Our inclusion of the tax receivable agreement (TRA) liability raised the weighted average adjusted leverage to 2x-3x compared with 1.2x-1.4x (excluding the liability). - We affirmed our '###' issuer credit rating on Blue Owl Capital and our '###' unsecured debt rating. - The stable outlook reflects our expectation that over the next 18-24 months, the company will continue to meaningfully grow its fee-paying AUM and earnings while sustaining leverage of 2.0-3.0x....

  
Report Type:

Research Update

Ticker
1855894D
Issuer
Blue Owl Capital Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Blue Owl Capital 'BBB' Rating Affirmed On Strong Operating Performance Albeit Increased Leverage; Outlook Remains Stable" Aug 22, 2022. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Blue-Owl-Capital-BBB-Rating-Affirmed-On-Strong-Operating-Performance-Albeit-Increased-Leverage-Outlook-Remains-Stable-2882928>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Blue Owl Capital 'BBB' Rating Affirmed On Strong Operating Performance Albeit Increased Leverage; Outlook Remains Stable Aug 22, 2022. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Blue-Owl-Capital-BBB-Rating-Affirmed-On-Strong-Operating-Performance-Albeit-Increased-Leverage-Outlook-Remains-Stable-2882928>
  
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