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Fitch: PennantPark off watch
Fitch Ratings said it affirmed PennantPark Investment Corp.’s long-term issuer default rating, senior secured debt and senior unsecured debt ratings at BBB-.
The ratings have been removed from Rating Watch negative. The outlook is negative.
Fitch said the removal of the negative Rating Watch reflects the recent deleveraging of the company’s balance sheet, following the repayment of outstanding borrowings under the credit facility and redemption of the 2025 unsecured retail notes.
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