KBRA assigns T. Rowe Price OHA notes BBB

KBRA said it assigned a BBB rating to T. Rowe Price OHA Select Private Credit Fund's $300 million of 7.77% senior unsecured notes due March 7, 2029.

The outlook is stable.

The rating and outlook are supported by the fund’s ties to Oak Hill Advisors, LP’s (OHA) $63 billion of assets under management, which includes the $28 billion private credit platform that has SEC exemptive relief to co-invest with OHA affiliates, the agency said. T. Rowe Price Group, Inc., the parent company of OHA (acquired in 2021), is a global asset manager with about $1.45 trillion in AUM.

The proceeds will be used to partially repay borrowings under the company's secured revolving bank facility.

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