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Fitch rates FS KKR notes BBB-
Fitch Ratings said it assigned a BBB- rating to FS KKR Capital Corp.’s $425 million, 4.125% unsecured notes due Feb. 1, 2025.
Fitch doesn’t see the offering affecting FSK’s leverage as proceeds will be used to repay debt.
“The alignment of the unsecured debt rating with that of the long-term issuer default rating reflects solid collateral coverage for all classes of debt, given that FSK is subject to a 150% asset coverage rule. The unsecured debt rating also reflects Fitch’s expectation that unsecured debt, as a proportion of FSK’s total debt outstanding, will remain above 35% over time,” said the agency in a press release.
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