S&P revises Ares Capital view to stable

S&P said it revised the outlook for Ares Capital Corp. to stable from positive and affirmed its BBB- ratings.

“The outlook revision reflects that it is unlikely we will raise the ratings due to uncertainty related to the Covid-19 pandemic. We expect the pandemic to result in increased credit losses and calls on liquidity to fund commitments, as well as adverse financing conditions for business development companies. The rating affirmation reflects ARCC's very strong capital position, successful underwriting track record, and favorable funding profile,” said S&P in a press release.

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