Main Street Capital Corp.'s Senior Unsecured Notes Rated 'BBB'

NEW YORK (S&P Global Ratings) April 17, 2019--S&P Global Ratings today assigned its 'BBB' debt rating on Main Street Capital Corp.'s senior unsecured notes due 2024. We expect the issuance to be about $150 million (with potential to upsize). Our issuer credit rating on Main Street is 'BBB' with a stable outlook. In the near term, the company intends to use the proceeds to repay a portion of the amount outstanding under its revolving credit facility and then re-borrow under this facility to repay notes due December 2019. Therefore, we expect the transaction to be neutral from a leverage perspective. As of Dec. 31, 2018, Main Street's debt to adjusted total equity (ATE) was about 0.8x. The stable outlook reflects

...April 17, 2019 NEW YORK (S&P Global Ratings) April 17, 2019--S&P Global Ratings today assigned its '###' debt rating on Main Street Capital Corp.'s senior unsecured notes due 2024. We expect the issuance to be about $150 million (with potential to upsize). Our issuer credit rating on Main Street is '###' with a stable outlook. In the near term, the company intends to use the proceeds to repay a portion of the amount outstanding under its revolving credit facility and then re-borrow under this facility to repay notes due December 2019. Therefore, we expect the transaction to be neutral from a leverage perspective. As of Dec. 31, 2018, Main Street's debt to adjusted total equity (ATE) was about 0.8x. The stable outlook 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 ATE of less than 1.0x and debt (excluding Small Business Investment Company debt)...

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