S&P lifts American Capital

Standard & Poor's said it raised American Capital Ltd.'s counterparty credit, senior secured and senior unsecured ratings to B from B-.

The outlook is stable.

The company's management has continued to work through the troubled assets on the company's balance sheet, shrink its investment portfolio and pay down the high-cost debt that resulted from the company's June 2010 refinancing transaction, S&P said.

The stable outlook considers that the company could take an extended period to mend its investment portfolio and resume more normal operations, the agency added.

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