S&P assigns NXT loan BB-

Standard & Poor's said it assigned its BB- issuer credit rating on NXT Capital Inc.

The outlook is stable.

The agency also assigned a BB- rating on NXT and NXT Capital LLC's proposed $150 million term loan B.

"Our rating on NXT reflects its short operating history and high growth aspirations, the significant credit risk of its loan portfolio, and a funding profile that heavily encumbers its balance sheet and exposes it to funding risk," S&P credit analyst Brendan Browne said in a news release.

"The company's focus on first-lien senior debt, its well-diversified loan portfolio by industry and geography, and the experience of its senior management are positive ratings factors."

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