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Moody’s transfers Franklin BSP rating
Moody's Investors Service said it assigned a Baa3 long-term issuer rating to Franklin BSP Capital Corp. (FBCC), a business development company. The outlook is stable. At the same time, Moody's withdrew the Baa3 long-term issuer rating and stable outlook of Franklin BSP Lending Corp. (FBLC). Moody's also affirmed FBLC's Baa3 senior unsecured rating.
“The affirmation of FBLC's senior unsecured rating follows the merger between affiliates FBLC and FBCC on Jan. 24, 2024, whereby FBCC is the surviving entity and will replace FBLC in all of its obligations with respect to senior unsecured notes and senior secured bank credit facilities,” Moody’s said in a press release.
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