Relatively long track record of good performance and limited losses relative to peers Diversified funding sources Low leverage compared to peers A substantial proportion of the portfolio consists of illiquid investments, including equity in lower middle-market companies that could constrain financial flexibility in severely adverse markets Rising nonaccrual ratio, which compares unfavorably with some of the larger peers The stable outlook on Main Street Capital Corp. reflects S&P Global Ratings' expectation that the firm's net investment income will be greater than its regular dividend over the next 12 to 24 months, and that it will operate with total debt to adjusted total equity (ATE) of less than 1.0x and debt (excluding Small Business Investment Co. [SBIC] debt) to reported equity
