Moody’s upgrades NXT Capital

Moody's Investors Service said it upgraded NXT Capital, Inc.'s corporate family and secured term loan ratings to B1 from B2.

The agency also said it maintained the positive outlook on the ratings.

Moody's said it upgraded NXT's the ratings to reflect the company's strong profitability since inception, disciplined growth, well managed asset quality and modestly increasing leverage.

Since starting its operations in 2010, the company has pursued reasonable and balanced growth in its corporate finance and commercial real estate finance segments, the agency said, extending its record of profitable operations while exiting the less promising equipment finance segment.

Like other commercial lenders, NXT's net interest margin has narrowed in recent years in response to competitive conditions, but asset yields have firmed during 2016, Moody’s said.

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