Research Update: Owl Rock Capital Corp. 'BBB-' Ratings Affirmed After Board Approves Modified Asset Coverage Rule; Outlook Remains Stable - S&P Global Ratings’ Credit Research

Research Update: Owl Rock Capital Corp. 'BBB-' Ratings Affirmed After Board Approves Modified Asset Coverage Rule; Outlook Remains Stable

Research Update: Owl Rock Capital Corp. 'BBB-' Ratings Affirmed After Board Approves Modified Asset Coverage Rule; Outlook Remains Stable - S&P Global Ratings’ Credit Research
Research Update: Owl Rock Capital Corp. 'BBB-' Ratings Affirmed After Board Approves Modified Asset Coverage Rule; Outlook Remains Stable
Published Apr 02, 2020
5 pages (1958 words) — Published Apr 02, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Owl Rock Capital Corp.'s (ORCC) Board of Directors approved the adoption of the modified asset coverage requirement allowed by the Small Business Credit Availability Act. Also, the company announced that it will target debt to equity between 0.9x and 1.25x. We are affirming our issuer credit and senior unsecured debt ratings of 'BBB-' on ORCC. The outlook remains stable, reflecting our expectation that over the next 12-24 months ORCC will gradually increase leverage to a range between 0.9x and 1.25x debt to adjusted total equity (ATE). In addition, we expect the company will continue to meet our key earnings metrics thresholds for the ratings. On April 2, 2020, S&P Global Ratings affirmed its 'BBB-' issuer credit and senior unsecured debt

  
Brief Excerpt:

...- Owl Rock Capital Corp.'s (ORCC) Board of Directors approved the adoption of the modified asset coverage requirement allowed by the Small Business Credit Availability Act. - Also, the company announced that it will target debt to equity between 0.9x and 1.25x. - We are affirming our issuer credit and senior unsecured debt ratings of '###-' on ORCC. - The outlook remains stable, reflecting our expectation that over the next 12-24 months ORCC will gradually increase leverage to a range between 0.9x and 1.25x debt to adjusted total equity (ATE). In addition, we expect the company will continue to meet our key earnings metrics thresholds for the ratings....

  
Report Type:

Research Update

Issuer
Owl Rock Capital Corporation
GICS
Asset Management & Custody Banks (40203010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Owl Rock Capital Corp. 'BBB-' Ratings Affirmed After Board Approves Modified Asset Coverage Rule; Outlook Remains Stable" Apr 02, 2020. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Owl-Rock-Capital-Corp-BBB-Ratings-Affirmed-After-Board-Approves-Modified-Asset-Coverage-Rule-Outlook-Remains-Stable-2405821>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Owl Rock Capital Corp. 'BBB-' Ratings Affirmed After Board Approves Modified Asset Coverage Rule; Outlook Remains Stable Apr 02, 2020. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Owl-Rock-Capital-Corp-BBB-Ratings-Affirmed-After-Board-Approves-Modified-Asset-Coverage-Rule-Outlook-Remains-Stable-2405821>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.