S&P rates Prospect Capital BBB

Standard & Poor's said it assigned a BBB long-term counterparty credit rating to Prospect Capital Corp.

The outlook is stable.

"Our rating on PSEC is based on the company's consistent and profitable financial performance, permanent capital, low leverage and adequate liquidity," S&P analyst Chris Cary said in a statement.

The rating also takes into account the company's conservative business strategy of investing primarily in senior or secured loans in the capital structure, the founding principals' investment expertise and side-by-side investment, the agency said.

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