Standard&Poor's Ratings Services' ratings on New York City-based Ares Capital Corp. (NASDAQ: ARCC) reflect the company's improved market position, which includes its $13 billion of committed capital under management as of March 31, 2011, including approximately $6 billion that Ares can commit directly and approximately $7 billion of capital indirectly available through some of Ares's financial services portfolio companies. The company's strong capital and good funding sources also support the rating. The Allied acquisition enhanced the company's diversification with respect to asset class and industry. Negatives for the rating include the illiquid nature of its on-balance-sheet investments made to small to midsize companies whose securities are not publicly traded. With the acquisition of Allied on April 1, 2010,
