Corporate Capital Trust, a non-traded business development company sponsored by CNL Financial Group, received an issuer and senior unsecured debt rating of BBB with a stable outlook from Kroll Bond Rating Agency, Inc.
In its report, Kroll indicated the rating reflected Corporate Capital Trust’s low leverage, well-diversified portfolio, limited exposure to equity investments, and investment performance. Kroll also noted the strength of KKR & Co. and CNL Financial Group, which externally manage the company, and the broad access to direct investment opportunities in private credit.
“We are pleased with Kroll’s BBB rating,” said Steve Shackelford, president and chief financial officer of Corporate Capital Trust. “It confirms the strength of the collaboration of CNL and KKR and underscores the emphasis we place on risk management in our underwriting process.”
CNL Financial Group is a private investment management firm providing global real estate and alternative investments headquartered in Orlando, Florida. Since inception in 1973, CNL Financial Group and/or its affiliates have formed or acquired companies with more than $33 billion in assets.
KKR & Co., L.P. is a global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.