Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Prospect Capital Corp. > News item |
DBRS eyes Prospect Capital positively
Morningstar DBRS said it revised the trend on Prospect Capital Corp. (PSEC) to positive from stable and affirmed its ratings, including its long-term issuer rating and long-term senior debt, both at BBB (low).
The positive trend reflects the company's notable progress over the past two years to reduce its risk profile. PSEC has increased the proportion of its first lien exposure from 47% of its total investment portfolio at fair value (FV) at YE21 to approximately 59% at Dec.31, 2023 (YE23), while at the same time decreasing the proportion of its subordinated credit portfolio (comprised of second lien loans and structured notes).
“We expect PSEC to further improve its credit risk profile by increasing its proportion of first lien investments while generating sound operating results and maintaining prudent leverage levels, despite economic uncertainties and an elevated interest rate environment,” the agency said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.