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KBRA rates FS KKR Capital notes BBB
KBRA assigns a rating of BBB to FS KKR Capital Corp.'s $400 million of 7.875% senior unsecured notes due 2029.
“The ratings and stable outlook are supported by FS KKR Capital Corp.'s ties to KKR & Co., which has $510 billion of AUM, including $197 billion dedicated to private credit lending, along with FSK's SEC exemptive relief to co-invest among affiliated companies of KKR credit. As of Sept. 30, 2023, FSK had a $14.7 billion well-diversified investment portfolio comprised mostly of senior secured first lien loans (60%) to 201 upper middle market companies within 24 industries,” the agency said in a statement.
The proceeds will be used for general corporate purposes, including debt repayment.
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