Form 8-K Och-Ziff Capital Managem For: Nov 02
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Fitch Cuts Och-Ziff Capital Management (OZM) Ratings to Junk
November 3, 2016 2:29 PM EDTFitch Ratings has downgraded the Long-term Issuer Default Ratings (IDRs) of Och-Ziff Capital Management Group LLC and its related entities (NYSE: OZM) to 'BB+' from 'BBB-'following the company's release of its 3Q16 earnings and asset flow information yesterday. The ratings remain on Rating Watch Negative. A full list of rating follows at the end of this release.
KEY RATING DRIVERS
IDR AND SENIOR UNSECURED DEBT
The downgrades reflect Fitch's expectation of significantly lower future earnings generation capacity following the announced management fee concessions that OZM has agreed to beginning in... More
