Fitch rates FS KKR notes BBB-

Fitch Ratings said it assigned a BBB- rating to FS KKR Capital Corp. II's $475 million of 4.25% unsecured notes maturing in February 2025. The notes were inherited from FS KKR Capital Corp. because of the merger of the two companies on June 16.

“The rating on the unsecured notes is equalized with the ratings assigned to the senior unsecured debt of FSK. The alignment of the unsecured debt rating with that of FSK's long-term issuer default rating (IDR) reflects solid collateral coverage for all classes of debt given that FSK is subject to a 150% regulatory asset coverage requirement and has a meaningful unsecured funding component,” the agency said in a press release.

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