S&P affirms ratings for KKR Financial Holdings

S&P Global Ratings affirmed the BBB issuer credit rating and senior unsecured rating on KKR Financial Holdings LLC and removed them from CreditWatch with negative implications.

The ratings outlook is stable.

The ratings action followed the affirmation of ratings on KKR Financial Holdings' parent company, KKR & Co. Inc., following its acquisition of Global Atlantic Financial Group Ltd.

While affirming the ratings, S&P Global Ratings noted that KKR Financial Holdings has maintained leverage well below 1.0x and adequate covenant cushions.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.