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S&P rates Ares Capital notes BBB-
S&P said it assigned a BBB- senior unsecured debt rating on Ares Capital Corp.'s proposed issuance of senior notes due 2024.
The proceeds will be used to repay outstanding indebtedness, including a portion of its revolving credit facility, S&P said.
The rating reflects the company's low financial leverage, successful track record and good diversity of funding, the agency said.
The rating also considers the company's good market position relative to rated peers, S&P said.
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