Fitch alters Antares outlook to stable

Fitch Ratings said it revised the outlook to stable from negative and affirmed Antares Holdings LP's long-term issuer default rating at BBB, senior secured debt rating at BBB and senior unsecured debt rating at BBB-.

“The outlook revision reflects the normalization of Antares' portfolio company revolver draws and reduction in leverage since the early stages of the coronavirus pandemic. Additionally, while Fitch believes the economic impact of the pandemic could still pressure credit performance in 2021, non-accruals have declined from their 2Q20 peak and net charge-offs (NCOs) in 2020 were consistent with historical averages,” the agency said in a press release.

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