Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Ares Capital Corp. > News item |
Fitch affirms Ares Capital
Fitch Ratings said it affirmed Ares Capital Corp.'s long-term issuer default rating at BBB and senior secured debt at BBB and removed them from Rating Watch Negative following the closing of the Allied Capital Corp. acquisition. Allied's senior unsecured debt rating was upgraded to BBB- from B+ with a recovery rating of RR4.
The outlook is stable.
The removal from negative watch reflects the company's ability to meet financial and non-financial targets articulated following news of the Allied acquisition in October 2009, Fitch said.
Pro forma leverage is expected to be at or below the 0.65x to 0.75x target, the agency said, due to Allied's significant asset sales and debt repayments.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.