Fitch Affirms KKR's Long-Term Issuer Default Ratings
Analyst Ratings, Historical Stock Prices, Earnings Estimates, and Actuals
October 27, 2023
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of KKR & Co. Inc. (KKR). The affirmation reflects KKR's strong competitive position as a global alternative asset manager with a diverse range of investment strategies and a long track record of generating solid returns for its investors.
KKR's IDRs are also supported by its robust capital base and experienced management team. The company has a strong track record of fundraising and has grown its assets under management (AUM) significantly in recent years. KKR's AUM stood at $471 billion as of June 30, 2023, up from $384 billion at the end of 2021.
The company's earnings have also grown steadily in recent years. KKR's net income for the first nine months of 2023 was $2.8 billion, up from $2.3 billion for the same period in 2022. The company's earnings growth has been driven by strong performance fees and a rise in management fees.
KKR's stock price has also performed well in recent years. The company's share price has increased by over 50% since the beginning of 2022. KKR's stock price is currently trading at around $50 per share.
Fitch's affirmation of KKR's IDRs is a positive sign for the company's future. The ratings affirmation reflects Fitch's confidence in KKR's ability to continue to generate solid returns for its investors and to maintain its strong competitive position in the global alternative asset management industry.
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