Ares Capital Corp.'s Proposed Notes Due 2025 Rated 'BBB-'

NEW YORK (S&P Global Ratings) Jan. 8, 2020--S&P Global Ratings today assigned its 'BBB-' senior unsecured debt rating on Ares Capital Corp.'s (ARCC) proposed issuance of senior notes due 2025. ARCC intends to use the net proceeds from this offering to repay outstanding indebtedness under its revolving credit facility, revolving funding facility, and/or its SMBC funding 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. General Criteria: Group Rating Methodology, July 1, 2019 Criteria - Financial Institutions - General: Key Credit Factors For U.S. Business Development

...January 8, 2020 NEW YORK (S&P Global Ratings) Jan. 8, 2020--S&P Global Ratings today assigned its '###-' senior unsecured debt rating on Ares Capital Corp.'s (ARCC) proposed issuance of senior notes due 2025. ARCC intends to use the net proceeds from this offering to repay outstanding indebtedness under its revolving credit facility, revolving funding facility, and/or its SMBC funding 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....

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