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S&P gives Ares notes BBB
S&P said it assigned a BBB rating to Ares Capital Corp.’s senior unsecured notes due 2025.
The agency said it expects the issuance to be about $500 million, with the potential for upsizing based on investor interest. For the purpose of the rating, S&P said it assumes the issuance will be no larger than $750 million.
The outlook is stable.
The company intends to use the proceeds for general corporate purposes, including paying down outstanding borrowings on its revolvers.
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