Fitch rates CapitalSource senior debt BBB-

Fitch Ratings said it rates CapitalSource Inc.'s senior unsecured debt BBB-. The outlook is stable.

Fitch said CapitalSource's rating reflects the company's operating success to date, focused business strategy, moderate financial leverage, good asset quality, and proven management team. Fitch also notes that the company's unencumbered asset coverage at Dec. 31, 2004 was solid.

CapitalSource's strengths are tempered by the company's short operating history and rapid growth with a limited business and portfolio seasoning. Additionally, the company has been principally a secured borrower.

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