KBRA rates FS KKR notes BBB

KBRA said it assigned a BBB rating to FS KKR Capital Corp.’s $500 million of 3.25% senior unsecured notes due July 15, 2027.

“FSK’s BBB rating reflects the company’s diversified $15.8 billion investment portfolio at fair value consisting of mostly senior secured loans (first lien 61.2%, second lien 10.6%) to 190 portfolio companies, adequate leverage of 1.10x, (within its targeted range of net leverage of 1.0x and 1.25x), and a seasoned management team with decades of experience in middle-market lending with access to the $185 billion KKR Credit investment platform through co-investment relief by the SEC exemptive orders,” the agency said in a press release.

The proceeds will be used for general corporate purposes, including the repayment of debt.

The outlook is stable.

© 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.