Moody’s assigns FS Global preferreds Aa3

Moody’s Investors Service said it assigned Aa3 ratings to two new tranches of preferred securities issued by FS Global Credit Opportunities Fund.

The fund will issue $50 million of series 2025, with a liquidation preference of $1,000 per share, and $50 million of series 2025-2 also with a liquidation preference of $1,000 per share.

The transaction is expected to be leverage neutral because the proceeds will be used to pay down a portion of outstanding senior debt, the agency said.

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