Kroll Bond Rating Agency Assigns BBB+ Rating to Prospect Capital Corporation
Kroll Bond Rating Agency Assigns BBB+ Rating to Prospect Capital Corporation
NEW YORK--(BUSINESS WIRE)-- Kroll Bond Rating Agency (KBRA) announces the assignment of a BBB+ rating with a stable outlook to Prospect Capital Corporation, a Business Development Corporation (BDC) based in New York, NY. Prospect Capital Corporation makes loans and equity investments in middle-market companies for re-financings, leveraged buyouts and capital expenditures.
The BBB+ rating of Prospect Capital Corporation is supported by their majority senior secured position within their investment portfolio, strong leverage metrics that are well within the BDC limits, excellent asset quality performance to date and the quality of their credit originations and monitoring. Prospect Capital's strong and stable management team and proven expertise in middle market lending is also a positive.
The rating was assigned using KBRA's Finance Company Rating Methodology, published April 1, 2013. For more information, please visit www.kbra.com.
About Kroll Bond Rating Agency
KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
Kroll Bond Rating Agency
Marjan Riggi, 646-731-2354
mriggi@krollbondratings.com
or
Gregory Root, 646-731-2381
groot@krollbondratings.com
KEYWORDS: United States North America New York
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