Fitch to rate Ares Capital debt BBB

Fitch Ratings said it expects to assign a rating of BBB to Ares Capital Corp.’s unsecured institutional debt issuance.

The agency does not expect there to be a material impact on the company's leverage levels as a result of the issuance, as proceeds will be used largely to repay borrowings on secured credit facilities.

Fitch views the firm's ability to access the institutional bond market favorably, as it provides Ares with enhanced funding flexibility.

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