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S&P gives Ares Capital notes BBB
Standard & Poor's said it assigned its BBB issue-level rating on Ares Capital Corp.'s $600 million senior unsecured notes due November 2018.
The long-term issuer credit rating on Ares is BBB and the outlook is stable.
S&P said the rating on Ares reflects the company's good market position, which includes its total investments of $7.4 billion across 175 portfolio companies as of Sept. 30. In addition to revenue from its portfolio companies, Ares generates both interest and dividend income, as well as fees from its investments in IHAM and its Senior Secured Loan Program.
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