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Published on 7/27/2023 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily and Prospect News Investment Grade Daily.

S&P rates Ares Capital notes due 2027 BBB-

S&P said it assigned its BBB- debt rating to Ares Capital Corp. proposed senior notes due 2027.

The company expects to use the net proceeds to repay outstanding debt under the revolving credit facility ($1.9 billion aggregate principal amount outstanding as of July 19, 2023), the revolving funding facility ($850 million aggregate principal amount outstanding as of July 19, 2023), the SMBC funding facility ($401 million aggregate principal amount outstanding as of July 19, 2023) and/or the BNP funding facility ($475 million aggregate principal amount outstanding as of July 19, 2023).


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