Fitch puts Allied Capital on positive watch

Fitch Ratings said it placed the following ratings of Allied Capital Corp. on Rating Watch positive after the announcement of Allied's merger agreement with Ares Capital Corp.: long-term issuer default rating of B+, senior secured debt of BB/RR1 and senior unsecured debt of B+/RR4.

The Rating Watch positive reflects Fitch's belief that Allied's debt holders will benefit from Ares' superior credit profile, improved funding flexibility and the enhanced liquidity of the combined entity.

© 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.