NEW YORK (Standard&Poor's) Oct. 15, 2010--Standard&Poor's Ratings Services said today that it assigned its 'BBB' senior unsecured debt rating to ARES Capital Corp.'s $200 million, 7.75% senior unsecured notes maturing Oct. 15, 2040. The notes are fully and unconditionally guaranteed by ARES and will rank pari passu with ARES's already existing senior unsecured notes with outstanding principal amount of $691.8 million as of Sept. 30, 2010. Our senior unsecured debt rating on these notes is also 'BBB'. The rating reflects the company's improved market position and revenue diversification after it acquired Allied Capital, its strong capital levels, and good funding. We believe the new $200 million senior unsecured notes offering further diversifies ARES's funding sources. Negatives
