Fitch assigns Goldman Sachs BDC notes BBB-

Fitch Ratings said it assigned an expected rating of BBB- to Goldman Sachs BDC Inc.'s announced unsecured note offering. Fitch does not expect there to be a material effect on the company's leverage levels as a result of the issuance, as proceeds will be used to repay secured debt.

Fitch said it views the firm's ability to access the institutional bond market favorably, as it provides the company with enhanced funding flexibility.

The expected rating on the unsecured notes is equalized with the ratings assigned to the business development company's senior unsecured debt, as the new notes will rank equally in the capital structure. The alignment of the unsecured debt rating with that of the long-term issuer default rating reflects solid collateral coverage for all classes of debt given the company is subject to a 150% asset coverage limitation, said Fitch.

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