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S&P rates Ares notes BBB-
S&P said it assigned a BBB- rating to Ares Capital Corp.’s proposed offering of senior notes due January 2026.
Proceeds will be used to repay a portion of its revolver borrowings, revolving funding facility and SMBC funding facility.
“Pro forma, we anticipate the transaction to be leverage neutral. As of March 31, 2020, ARCC’s leverage, measured as debt to adjusted total equity, was 1.24x,” S&P said in a press release.
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