Fitch affirms American Capital

Fitch Ratings said it affirmed the following American Capital Strategies, Ltd. debt ratings: issuer default rating BBB and senior Unsecured debt BBB.

The outlook is stable.

The agency said that the rating affirmation and stable outlook reflects American Capital's overall financial performance, broadened funding platform, conservative leverage and strong capitalization.

Primary ratings concerns include overall size and pace of portfolio growth over the past three years, including expansion of the asset management business, impact of the weakening U.S. economy on portfolio valuation and performance and significant reliance on capital markets to fund growth, Fitch noted.

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