Home Credit Ratings and Research S&P Global Ratings’ Credit Research Ares Management Corp.

Summary: Ares Management L.P.

Published Dec 05, 2016

7 pages (2539 words) — Published Dec 05, 2016

Price US$ 225.00 | Buy this Report Now

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Abstract:

Good investment performance and well-executed business strategy Stable cash flows from predominantly locked-in management fees Concentration in credit products Modestly higher leverage than most alternative asset manager peers The stable outlook on Ares Management L.P. reflects S&P Global Ratings' expectation that the company will maintain good investment performance and solid growth in fee-paying assets under management (FPAUM) over the next 18-24 months. It also reflects our expectation that the company will maintain leverage between 1.5x and 2.0x. We could upgrade Ares if we expect the company to maintain adjusted debt to EBITDA below 1.5x on a sustained basis. We would likely downgrade Ares if adjusted debt to EBITDA were to increase above 2.0x. Given the locked in nature of its

Brief Excerpt:

...(Editor's Note: In the original version of this article, figures in the key metrics table were misstated. A corrected version follows.) Credit Rating: ###+/Stable/--...

Report Type:

Summary

Ticker

0966269D

Issuer

Ares Management Corp.

GICS

Asset Management & Custody Banks (40203010)

Sector

Global Issuers

Country

United States

Region

United States

Format:

PDF

Summary: Ares Management L.P. – 2017/07/11 – US$ 225.00

Bulletin: Ares Management L.P. Ratings Unaffected By Proposed Equity Offering – 2018/03/06 – Free

Summary: Ares Management L.P. – 2018/08/28 – US$ 225.00

Bulletin: Ares Management's Business Momentum Continues, But Leverage Is A Concern – 2019/02/15 – Free

Ares Management Corp. – 2019/07/08 – US$ 500.00

Ares Management L.P. – 2016/12/05 – US$ 500.00

Ares Management L.P. Outlook Revised To Stable From Positive On Expectations Of Higher Leverage; 'BBB+' Ratings Affirmed – 2016/10/21 – US$ 150.00

Research Update: Ares Management L.P. Outlook Revised To Stable From Positive On Expectations Of Higher Leverage; 'BBB+' Ratings Affirmed – 2016/10/21 – US$ 225.00

Ares Management L.P.'s Proposed Perpetual Preferred Units Rated 'BBB-' – 2016/06/01 – US$ 150.00

Ares Management L.P. – 2015/12/03 – US$ 500.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Ares Management L.P." Dec 05, 2016. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Ares-Management-L-P-1794902>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Ares Management L.P. Dec 05, 2016. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Ares-Management-L-P-1794902>

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