Moody’s ups NXT Capital, facilities to Ba3

Moody's Investors Service said it upgraded NXT Capital, Inc.'s corporate family and secured bank credit facilities ratings to Ba3 from B1.

The outlook was revised to stable from positive.

Moody's said it upgraded the ratings based on NXT’s solid profitability amidst increased competition-related yield pressures, effective liquidity and capital management, and well managed asset quality.

NXT’s rating constraints include its reliance on secured funding and competitive and funding cost disadvantages versus more established finance companies and regional banks in the broader SME and CRE sectors, the agency explained.

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