T. Rowe Price OHA Select Private Credit Fund 8-K

What Happened
T. Rowe Price OHA Select Private Credit Fund filed an 8‑K on March 27, 2026 announcing regular and variable supplemental cash distributions for March 2026 and reporting its February 28, 2026 net asset value and portfolio metrics. Distributions were declared on March 23, 2026 and are payable on or about April 30, 2026 to shareholders of record as of March 31, 2026. The Fund also disclosed that Fitch assigned a ‘BBB‑’ issuer rating (Feb. 27, 2026) and Moody’s assigned a ‘Baa3’ issuer rating (Mar. 13, 2026), both with stable outlooks.

Key Details

• Distributions per share (total net including variable supplemental): Class I $0.2300; Class S $0.2114; Class D $0.2245. Variable supplemental portion = $0.03 per share for all classes. Reinvestment plan available.
• NAV and balance sheet (as of Feb. 28, 2026): NAV per share $26.33; aggregate NAV $1,622.4 million; investment portfolio fair value $3,008.6 million; principal debt outstanding $1,413.6 million; debt-to-equity ≈ 0.87x.
• Offering and capital raised (through Mar. 2, 2026): Continuous offering up to $2.5 billion; shares issued — Class I: 49,452,883 ($1,351.7M); Class S: 4,729,552 ($129.4M); Class D: 6,959,516 ($187.4M).
• Credit ratings: Fitch ‘BBB‑’ (stable) and Moody’s ‘Baa3’ (stable). Fund paid for the credit assessments; underlying private loans are not rated.

Why It Matters
These disclosures affect income-oriented investors and holders of the Fund’s share classes: the declared cash distributions define near-term cash payouts (or reinvestment amounts). The reported NAV, portfolio fair value, and leverage (debt-to-equity ~0.87x) provide a snapshot of the Fund’s balance-sheet position. New investment‑grade/medium‑grade issuer ratings from Fitch and Moody’s may influence borrowing costs, investor confidence, and secondary-market perceptions, though ratings are opinions and the Fund’s underlying loans remain unrated.