Fitch revises Ares Capital to positive

Fitch Ratings said it affirmed the long-term issuer default rating, secured debt rating and unsecured debt rating of Ares Capital Corp. at BBB.

The outlook was revised from positive to stable.

Fitch said the outlook revision was driven largely by the challenging market backdrop, which is likely to pressure the sectors, earnings, asset quality, portfolio valuation, dividend funding and equity market access over the near-to intermediate-term. While Fitch believes Ares is relatively well positioned, given its senior portfolio focus, credit track record, available liquidity and term-funding profile, it will not be immune to market pressures.

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