Fitch rates Main Street Capital BBB-

Fitch Ratings said it assigned BBB- ratings to Main Street Capital Corp. and its secured and unsecured debt

“The ratings reflect Main Street Capital Corp.'s (Main Street) portfolio focus on senior debt investments, strong portfolio diversification, solid track record in credit and equity investing, above-average asset coverage cushion following the reduction of its regulatory requirement to 150% from 200% in May 2022, consistent operating performance, experienced management team, and strong funding flexibility with demonstrated access to the public debt and equity markets,” Fitch said in a press release.

However, Main Street has above average exposure to equity investments, which could experience price swings, and a focus on lower middle market companies with below average EBITDA, which heighten risk in a downturn, the agency warned.

The outlook is stable.

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