Moody's assigns Prospect notes Baa3

Moody's Investors Service said it assigned a long-term senior unsecured rating of Baa3 to the senior unsecured notes due 2028 Prospect Capital Corp. (PSEC) plans to sell.

“Moody's assigned a Baa3 rating to PSEC's senior unsecured notes based on PSEC's credit profile and the senior priority of the notes in PSEC's capital structure,” the agency said in a press release.

PSEC expects to use proceeds for repayment of balances under the company's revolver, enhancing liquidity and making investments.

PSEC's outlook is stable.

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