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S&P assigns Ares revolver BBB
Standard & Poor's said it assigned its BBB senior secured debt rating to Ares Capital Corp.'s $1.25 billion revolving credit facility due May 2019.
As of March 31, a significant portion of the company's $3.143 billion debt was in the form of unsecured notes payable, with only $100 million secured debt outstanding.
That said, the company uses its senior secured revolving credit facility frequently for portfolio growth and other general corporate purposes, and the agency said it believes it is an important piece of its capital structure.
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