Fitch affirms Allied Capital

Fitch Ratings said it affirmed Allied Capital Corp.'s long-term issuer default rating at BBB and senior unsecured debt at BBB.

The outlook is stable.

The affirmation reflects the company's well-defined operating strategy, solid operating performance, relatively stable asset quality, low leverage and unsecured funding profile, Fitch said.

Rating constraints are moderate investment concentrations in the private finance portfolio, reliance on access to capital markets to fund growth and heightened competition in the core private finance business, the agency said.

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