NEW YORK (S&P Global Ratings) June 5, 2019--S&P Global Ratings today assigned its 'BBB-' senior unsecured debt rating on Ares Capital Corp.'s (ARCC) proposed issuance of senior notes due 2024. ARCC intends to use the net proceeds from this offering to repay outstanding indebtedness, including a portion of its revolving credit facility. Our rating on ARCC reflects the company's low financial leverage (notwithstanding adoption of a 150% asset coverage requirement), successful track record, and good diversity of funding. The rating also reflects the business development company's good market position relative to peers we rate. Criteria - Financial Institutions - General: Key Credit Factors For U.S. Business Development Companies, Dec. 9, 2014 Criteria Financial Institutions General: Issue Credit Rating
