Ares Management Corporation (ARES) News
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ARES News Highlights
- ARES's 30 day story count now stands at 48.
- Over the past 29 days, the trend for ARES's stories per day has been choppy and unclear. It has oscillated between 1 and 20.
- The most mentioned tickers in articles about ARES are AMP, BMO and LOAN.
Latest ARES News From Around the Web
Below are the latest news stories about Ares Management Corp that investors may wish to consider to help them evaluate ARES as an investment opportunity.
Rating Action: Moody's upgrades CPG International LLC's (AZEK) CFR to Ba3; outlook stableGlobal Credit Research - 13 Apr 2021Approximately $467 million of debt securities affectedNew York, April 13, 2021 -- Moody's Investors Service (Moody's) upgraded CPG International LLC's (a wholly owned subsidiary of The AZEK Company Inc.) (AZEK) Corporate Family Rating to Ba3 from B1 and Probability of Default Rating to Ba3-PD from B1-PD. Moody's also upgraded the rating on the company's first lien senior secured term loan to B1 from B2. AZEK's SGL-2 Speculative Grade Liquidity Rating was maintained.The upgrade of the Corporate Family Rating to Ba3 reflects AZEK's strong credit metrics, including debt to EBITDA of about 2.2x, and pro forma EBITDA to interest coverage of approximately 6.0x at Dece...
(Bloomberg) -- Liquidity pumped into the credit markets during the pandemic could stave off a spike in defaults for several years, Ares Management Corp. Chief Executive Officer Michael Arougheti said.“There’s underlying stress that will find its way into the markets but I don’t think that’s anytime soon,” Arougheti said at a virtual Bloomberg News event this week. Default rates are “artificially low” and asset prices are buoyant because “there’s so much liquidity masking that default rate that we’ve all grown accustomed to seeing at this point in the cycle that we’re probably two to three years out before we start seeing a traditional default cycle play out.”Progress against Covid-19 and a strengthening economy are providing support for small businesses, helped by the Federal Reserve’s ...
AMG vs. ARES: Which Stock Is the Better Value Option?
One of the biggest day-one pops for a SPAC merger announcement in weeks happened Thursday with news that a renewable gas (RNG) platform is being created. The SPAC Deal: The company being formed through a SPAC merger will combine Rice Acquisition Corp (NYSE: RICE ) with Aria Energy Operating, a portfolio company of Ares Management Corp (NYSE: ARES ) and Archea Energy LLC, currently majority-owned by Rice Investment Group, which is an affiliate of the SPAC sponsor. The new company will take the name of Archaea Energy and will have more than $350 million in cash on the balance sheet post-deal, which the company said will fund its pipeline of development projects. The transaction is expected to close in the third quarter of 2021 and the combined company plans to be listed on the NYSE under ...
In addition, Moody's assigned a B2 rating to Savers' proposed $600 million senior secured first lien term loan. Moody's ratings and outlook are subject to receipt and review of final documentation.The B2 CFR assignment reflects Savers' moderate pro forma leverage post-transaction with debt/EBITDA in the mid-6x range for the LTM period January 2, 2021. The rating also reflects Savers' good liquidity including its improved ability to generate free cash flow given its lower interest expense following the close of the transaction.
Ares Management Corporation (NYSE: ARES) ("Ares" or the "Company") today announced the pricing of its previously announced underwritten public offering of 9,500,000 shares of Class A common stock, par value $0.01 per share ("Class A common stock"), of the Company at a public offering price of $54.00 per share of Class A common stock. Ares has granted to the underwriters of the offering an option to purchase up to 1,425,000 additional shares of Class A common stock. The offering is expected to close on or about April 8, 2021, subject to customary closing conditions.
Shares of Ares Management dropped 6.4% in extended trading on April 5 as the alternative investment management company announced a 9.5 million offering of the company’s Class A shares with a par value of $0.01 per share. The company expects to grant the underwriters an option to buy up to 1.43 million additional shares of Class A common stock. Simultaneously, Ares Management (ARES) also entered into a private placement agreement with its existing shareholder, Sumitomo Mitsui Banking Corporation to acquire $250 million of ARES common stock (consisting of a number of shares of non-voting common stock and a number of shares of Class A common stock to be determined by Sumitomo). The stock will be acquired at a price per share that will be equal to the price of the public offering less under...
Ares Management Corporation ("Ares") (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of its Ares U.S. Real Estate Opportunity Fund III, L.P. ("AREOF III" or the "Fund"). The Fund, which targets distressed, repositioning, and selective development opportunities, was oversubscribed with approximately $1.7 billion of commitments compared to its $1.5 billion target. This marks the largest U.S. real estate equity fundraise for Ares to date and is a significant increase from the $1 billion of commitments raised for the predecessor fund and related vehicles.
Ares Management Corporation (NYSE: ARES) ("Ares" or the "Company") today announced the launch of an underwritten public offering of 9,500,000 shares of Class A common stock, $0.01 par value per share ("Class A common stock"), of the Company. Ares expects to grant to the underwriters of the offering an option to purchase up to 1,425,000 additional shares of Class A common stock.
BMO Capital Stick to Their Hold Rating for Ares Management