Fitch Ratings, earlier this week, announced the completion of its periodic review of Business Development Companies (BDCs). BDCs are publicly traded firms that mostly make loans to mid-sized companies. The review stated that, out of the 10 publicly rated firms, five were downgraded or assigned a negative outlook. Fitch stated: “Our outlook for the BDC sector is negative and reflects competitive underwriting conditions. Some are likely to see rating pressure over the outlook horizon.” The following companies were peer reviewed:
American Capital Ltd.
Apollo Investment Corp
BlackRock Capital Investment Corp
Fifth Street Finance Corp
PennantPark Investment Corp
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