Fitch rates TPG Specialty notes BBB-

Fitch Ratings said it assigned an expected rating of BBB-(EXP) to TPG Specialty Lending, Inc.'s proposed issuance of $100 million in senior unsecured notes.

The agency does not expect there to be a material impact on the company's leverage levels as a result of the issuance, as proceeds will be used to repay borrowings on secured credit facilities.

Fitch said it views positively TPG Specialty’s ability to diversify its funding, as well as to increase the unsecured component of its overall funding profile.

Pro forma, as of Sept. 30, 2017, unsecured funding would increase to 57%, which compares favorably relative to peers, the agency added.

© 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.