Ares Management, L.P. (ARES) Misses Q2 EPS by 2c
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August 4, 2015 9:26 AM EDT
Ares Management (NYSE: ARES) declared a quarterly dividend of $0.38 per share, or $1.52 annualized.
The dividend will be payable on September 30, 2015, to stockholders of record on September 15, 2015, with an ex-dividend date of September 11, 2015.
The annual yield on the dividend is 8.1... More
July 31, 2015 12:11 PM EDT
Standard & Poor's Ratings Services said it lowered its issuer credit rating on Ares Management (NYSE: ARES) to 'BBB+' from 'A-'. The outlook is stable. At the same time, we also lowered the issue rating on the company's senior unsecured debt to 'BBB+' from 'A-'.
"The downgrade reflects higher expected leverage following Ares' announced plans to merge with Kayne Anderson Capital Advisors L.P., an alternative investment firm with approximately $26 billion of AUM across about 90 funds as of March 31, 2015," said Standard & Poor's credit analyst Trevor Martin.
The company expects the transaction... More
