Moody’s ups FS Global Credit

Moody’s Investors Service said it upgraded FS Global Credit Opportunities Fund’s outstanding series 2023 and series 2026 term preferred shares to Aa3 from A1.

“The upgrade of FS Global Credit Opportunities Fund’s preferred share ratings to Aa3 reflects more conservatism in the fund’s leverage management than we initially expected when we first rated the Fund’s preferred shares in June 2018. The rating action is further supported by improvements in the fund’s investment quality as evidenced by an increase in the proportion of senior secured loans within the fund’s investment portfolio as well as a decline in the average duration of the fund’s investment portfolio,” said Moody’s in a press release.

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