S&P lifts American Capital to BB-

Standard & Poor's said it raised its counterparty credit and senior secured debt ratings on American Capital Ltd. to BB- from B+ and removed the ratings from CreditWatch, where they were placed on Aug. 2 with positive implications.

The outlook is stable.

"The upgrade reflects ACAS' improved financial risk profile, which we believe will improve further upon execution of its currently proposed amendment to its credit facility, and our view that the firm will continue to improve its business risk profile as a hybrid with both on-balance-sheet investments and increasing fee income from managing third-party funds," S&P credit analyst Sebnem Caglayan said in a news release.

© 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.