Main Street Capital Corp.'s $350 million Senior Unsecured Notes Due 2028 Rated 'BBB-'

TORONTO (S&P Global Ratings) Aug. 13, 2025--S&P Global Ratings today assigned its 'BBB-' issue rating to Main Street Capital Corp. (Main)'s issuance of $350 million senior unsecured notes due 2028. The company intends to use the net proceeds to repay existing indebtedness on its credit facilities. As of Aug. 8, 2025, it had approximately $355.0 million outstanding under the corporate credit facility maturing April 2030 and $180 million outstanding on the special purpose vehicle facility maturing September 2030. As of Aug. 8, 2025, Main's total indebtedness was approximately $2.3 billion--roughly 60% of which was unsecured, in line with the average for publicly traded business development company (BDC) peers. Assuming no equity growth from June 30, 2025, Main's leverage will be

...August 13, 2025 TORONTO (S&P Global Ratings) Aug. 13, 2025--S&P Global Ratings today assigned its '###-' issue rating to Main Street Capital Corp. (Main)'s issuance of $350 million senior unsecured notes due 2028. The company intends to use the net proceeds to repay existing indebtedness on its credit facilities. As of Aug. 8, 2025, it had approximately $355.0 million outstanding under the corporate credit facility maturing April 2030 and $180 million outstanding on the special purpose vehicle facility maturing September 2030. As of Aug. 8, 2025, Main's total indebtedness was approximately $2.3 billion--roughly 60% of which was unsecured, in line with the average for publicly traded business development company (BDC) peers. Assuming no equity growth from June 30, 2025, Main's leverage will be relatively unchanged pro forma the new debt raise, at about 1.03x (or 1.19x assuming no debt paydown) as of Aug. 8, 2025. We adjust equity by reversing the unrealized appreciation (or depreciation)...

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