Moody’s rates Sixth Street notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Sixth Street Lending Partners planned senior unsecured notes. This senior unsecured notes offering is the company's first.

The transaction does not affect SSLP's Baa3 long-term issuer rating, the agency said.

“Moody's assigned a Baa3 rating to the proposed senior unsecured notes based on SSLP's Baa3 issuer rating, the priority and proportion of senior unsecured debt in SSLP's debt capital structure, and the strength of the senior notes' asset coverage,” the agency said in a press release.

The proceeds will be used to pay down borrowings on the company's revolving credit facility and/or subscription facility.

The outlook is stable.

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