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S&P: American Capital view developing
Standard & Poor's said it revised the outlook on American Capital Ltd. to developing from stable.
The agency also said it affirmed the company’s BB issuer credit, senior secured and senior unsecured ratings.
The outlook revision reflects news that the company’s board authorized a plan to solicit acquisition offers on its various business lines, in whole or in part, S&P said.
The agency said it does expect the solicitation process to result in a sale and purchase agreement for the company.
The ratings reflect American Capital’s relatively conservative balance-sheet leverage, which is offset by a higher risk profile relative to banks, S&P said.
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