Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fifth Street Finance Corp. > News item |
Fitch affirms Fifth Street
Fitch Ratings said it affirmed Fifth Street Finance Corp.'s long-term issuer default rating at BBB-.
The outlook is stable.
The ratings reflect the company's low leverage, strong operating performance, solid asset quality, demonstrated access to the debt and equity markets and improved funding flexibility, Fitch said.
The ratings are constrained by the capital markets impact on leverage, given the need to fair value the portfolio each quarter, dependence on the capital markets to fund portfolio growth and a limited ability to retain capital due to dividend requirements, the agency said.
While Fitch said it expects leverage to increase modestly in 2012 as strong origination volume is funded with drawings on the secured credit facilities, leverage is not expected to rise above management's articulated target.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.