Fitch turns Goldman BDC view to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed Goldman Sachs BDC, Inc.'s long-term issuer default rating, secured debt rating and unsecured debt ratings at BBB-.

The revised outlook mirrors the reduced leverage and improved asset coverage cushion following the merger's closing with Goldman Sachs Middle Market Lending Corp. on Oct. 12, the agency said.

“Fitch estimates that leverage declined to 1.12x at Sept. 30, 2020, pro forma for the merger, from 1.47x, and that GSBD's asset coverage cushion increased to 20.8%, from 10.8% prior to the closing of the merger,” the agency said in a press release.

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