Research Update: Blue Owl Capital Outlook Revised To Stable On Improved Credit Metrics And Reduced Integration Risk; Ratings Affirmed - S&P Global Ratings’ Credit Research

Research Update: Blue Owl Capital Outlook Revised To Stable On Improved Credit Metrics And Reduced Integration Risk; Ratings Affirmed

Research Update: Blue Owl Capital Outlook Revised To Stable On Improved Credit Metrics And Reduced Integration Risk; Ratings Affirmed - S&P Global Ratings’ Credit Research
Research Update: Blue Owl Capital Outlook Revised To Stable On Improved Credit Metrics And Reduced Integration Risk; Ratings Affirmed
Published Apr 22, 2025
5 pages (2099 words) — Published Apr 22, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Blue Owl Capital Inc.'s fee revenue rose more than 30% in 2024, improving its credit metrics. We think that the integration risk associated with the M&A in 2024 is manageable, as the company has closed all four deals (with the most recent transaction, IPI, closing in Q1 2025) and we expect leverage to be below 3.0x and interest coverage between 10x-15x. As a result, we revised our outlook on Blue Owl to stable from negative. At the same time, we affirmed our issuer credit rating on Blue Owl at 'BBB' and issue-level ratings on the company's senior unsecured debt at 'BBB'. The stable outlook reflects the continued growth in the company's fee-paying assets under management (FPAUM) and earnings, strong liquidity,

  
Brief Excerpt:

...Issuer credit rating ###/Stable/-- Business risk Satisfactory Country risk Low Industry risk Intermediate Competitive position Satisfactory Financial risk Intermediate Anchor ### Modifiers Diversification/Portfolio effect Neutral Capital structure Neutral Financial policy Neutral Liquidity Strong Management and governance Neutral Comparable rating analysis Neutral Stand-alone credit profile: ###...

  
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 Outlook Revised To Stable On Improved Credit Metrics And Reduced Integration Risk; Ratings Affirmed" Apr 22, 2025. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Blue-Owl-Capital-Outlook-Revised-To-Stable-On-Improved-Credit-Metrics-And-Reduced-Integration-Risk-Ratings-Affirmed-3356685>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Blue Owl Capital Outlook Revised To Stable On Improved Credit Metrics And Reduced Integration Risk; Ratings Affirmed Apr 22, 2025. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Blue-Owl-Capital-Outlook-Revised-To-Stable-On-Improved-Credit-Metrics-And-Reduced-Integration-Risk-Ratings-Affirmed-3356685>
  
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