NEW YORK (Standard&Poor's) Nov. 14, 2013--Standard&Poor's Ratings Services today said it assigned its 'BBB' issue-level rating on Ares Capital Corp.'s $600 million senior unsecured notes due in November 2018. The long-term issuer credit rating on Ares is 'BBB', and the outlook is stable. Management expects to use the majority of the proceeds to pay down its revolving credit facilities. Following this transaction, we expect total debt to remain at $3.0 billion on a pro forma basis, with reported debt to equity expected to be at 0.65x. To calculate our key leverage metric, which is total debt to adjusted total equity (ATE), we deduct equity investments in controlled finance companies and equity in structured vehicles from reported
