Moody’s rates Prospect Capital Baa3

Moody’s Investors Service said it assigned a Baa3 issuer rating to Prospect Capital Corp.

The outlook is stable.

Moody's said the Baa3 rating reflects the company’s established history of operations and profitability since its 2004 initial public offering and the strength of its funding structure, including greater funding diversity, more evenly distributed debt maturities and fewer financial covenants compared to most peers, which reduces refinancing risk and default probability of senior unsecured debt.

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