Form 8-K Och-Ziff Capital Managem For: Sep 29
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Go back to Form 8-K Och-Ziff Capital Managem For: Sep 29
September 30, 2016 12:34 PM EDT
Fitch Ratings has placed its 'BBB-' Long-Term Issuer Default Rating (IDR) and 'BBB-' senior unsecured debt rating for Och-Ziff Capital Management LLC (NYSE: OZM) and its subsidiaries on Rating Watch Negative.
KEY RATING DRIVERS
IDR AND SENIOR UNSECURED DEBT
The Rating Watch Negative follows yesterday's announcement that OZM has entered into a settlement with the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) regarding violations of the Foreign Corrupt Practices Act (FCPA). The settlement includes a $412 million fine and deferred prosecution agreement for OZM and a guilty plea by one of... More
September 30, 2016 12:04 PM EDT
S&P Global Ratings said it lowered its issuer credit ratings on Och-Ziff Capital Management Group LLC (NYSE: OZM), as well as OZ Management LP, OZ Advisors LP, and OZ Advisors II LP (collectively, these three partnerships are referred to as the operating group), and Och-Ziff Finance Co. LLC to 'BBB-' from 'BBB'. The outlook is negative. At the same time, we lowered our senior unsecured debt ratings to 'BBB-' from 'BBB'.
The company recently announced that it has reached settlements with the Department of Justice (DOJ) and the SEC, resolving their investigations... More
