Prospect Capital’s Credit Ratings Reaffirmed Investment Grade by Morningstar DBRS with Stable Trend
Prospect Capital (NASDAQ: PSEC) has received a reaffirmation of its investment grade issuer and long-term senior debt credit ratings at BBB(low) from Morningstar DBRS, with a revised trend of Stable.
The company highlights its strong business profile, including:
- Over $21 billion invested across 400+ investments
- $4.7 billion in cumulative principal bond repayments
- $2.1 billion credit facility with 48 institutional banks
- 0.40x debt to equity leverage
- 0.4% nonaccruals
- 13% unlevered investment level gross cash internal rate of return for exited investments
- Less than 1% book to look ratio from over 3,000 annual origination opportunities
The company maintains a majority senior secured loan book and reports strong counterparty relationships and high employee ownership.
Prospect Capital (NASDAQ: PSEC) ha ricevuto una conferma delle sue valutazioni creditizie di investimento e di debito senior a lungo termine, mantenendo un rating di BBB(basso) da Morningstar DBRS, con una prospettiva rivista di Stabile.
L'azienda sottolinea il suo forte profilo aziendale, che include:
- Oltre 21 miliardi di dollari investiti in più di 400 investimenti
- 4,7 miliardi di dollari in rimborsi di capitale obbligazionario cumulativo
- 2,1 miliardi di dollari di linea di credito con 48 banche istituzionali
- 0,40x rapporto debito/capitale
- 0,4% di non accreditamenti
- 13% di tasso interno di rendimento lordo su investimenti usciti non levereggiati
- Meno dell'1% di rapporto libro/valutazione da oltre 3.000 opportunità di origine annuali
L'azienda mantiene un portafoglio di prestiti senior garantiti in maggioranza e riporta forti relazioni con le controparti e un'alta percentuale di proprietà da parte dei dipendenti.
Prospect Capital (NASDAQ: PSEC) ha recibido una reafirmación de sus calificaciones crediticias de emisor de grado de inversión y de deuda senior a largo plazo en BBB(bajo) por parte de Morningstar DBRS, con una tendencia revisada de Estable.
La empresa destaca su sólido perfil empresarial, que incluye:
- Más de 21 mil millones de dólares invertidos en más de 400 inversiones
- 4.7 mil millones de dólares en reembolsos de capital acumulativos de bonos
- 2.1 mil millones de dólares en una línea de crédito con 48 bancos institucionales
- 0.40x de apalancamiento deuda-capital
- 0.4% de no devengados
- 13% de tasa interna de rendimiento bruto no apalancada para inversiones salidas
- Menos del 1% de relación libro/valoración de más de 3,000 oportunidades de originación anuales
La empresa mantiene un portafolio mayoritario de préstamos senior garantizados y reporta fuertes relaciones con contrapartes y una alta propiedad por parte de los empleados.
Prospect Capital (NASDAQ: PSEC)는 Morningstar DBRS로부터 BBB(하) 등급의 투자 등급 발행자 및 장기 선순위 채무 신용 등급을 재확인 받았으며, 안정적인 추세로 수정되었습니다.
회사는 다음과 같은 강력한 비즈니스 프로필을 강조합니다:
- 400개 이상의 투자에 210억 달러 이상 투자
- 누적 원금 채권 상환 47억 달러
- 48개 기관은행과의 21억 달러 신용 시설
- 부채 대비 자본 비율 0.40배
- 0.4%의 미수채권
- 퇴출된 투자에 대한 비레버리지 투자 수준의 총 현금 내부 수익률 13%
- 연간 3,000건 이상의 기회에서 1% 미만의 장부 대비 평가 비율
회사는 대다수의 선순위 담보 대출 포트폴리오를 유지하고 있으며, 강력한 거래처 관계와 높은 직원 소유권을 보고합니다.
Prospect Capital (NASDAQ: PSEC) a reçu une réaffirmation de ses notations de crédit d'émetteur de catégorie investissement et de dette senior à long terme à BBB(bas) par Morningstar DBRS, avec une tendance révisée à Stable.
L'entreprise met en avant son solide profil commercial, qui comprend:
- Plus de 21 milliards de dollars investis dans plus de 400 investissements
- 4,7 milliards de dollars en remboursements de capital obligataire cumulés
- 2,1 milliards de dollars de ligne de crédit avec 48 banques institutionnelles
- 0,40x ratio d'endettement
- 0,4% de non-accruals
- 13% de taux de rendement interne brut non levé pour les investissements sortis
- Moins de 1% de ratio livre/valeur sur plus de 3 000 opportunités d'origine annuelles
L'entreprise maintient un portefeuille majoritaire de prêts senior garantis et fait état de relations solides avec les contreparties et d'une forte propriété par les employés.
Prospect Capital (NASDAQ: PSEC) hat eine Bestätigung seiner Investment-Grade-Emittenten- und langfristigen Senior-Debt-Kreditratings mit BBB(niedrig) von Morningstar DBRS erhalten, mit einem überarbeiteten Trend von Stabil.
Das Unternehmen hebt sein starkes Geschäftsprofil hervor, das Folgendes umfasst:
- Über 21 Milliarden Dollar in mehr als 400 Investitionen investiert
- 4,7 Milliarden Dollar an kumulierten Rückzahlungen von Anleihen
- 2,1 Milliarden Dollar Kreditlinie mit 48 institutionellen Banken
- 0,40x Verschuldungsgrad
- 0,4% Nicht-Zinsforderungen
- 13% unverschuldete Investitionsniveau-Brutto-Cash-Interne-Rendite für beendete Investitionen
- Weniger als 1% Buchwert-zu-Bewertung-Verhältnis aus über 3.000 jährlichen Origination-Möglichkeiten
Das Unternehmen hält ein Mehrheitsportfolio an besicherten Senior-Darlehen und berichtet von starken Gegenparteirelationen und einem hohen Mitarbeiterbesitz.
- Investment grade credit rating reaffirmed at BBB(low) with Stable outlook
- Low debt to equity ratio of 0.40x
- Strong portfolio performance with 13% unlevered IRR on exited investments
- Low nonaccrual rate of 0.4%
- Substantial credit facility of $2.1 billion with broad banking support
- Conservative origination with <1% book to look ratio
- None.
NEW YORK, March 28, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect", “our”, or “we”) today announced that Morningstar DBRS ("DBRS") has reaffirmed Prospect’s investment grade issuer and long term senior debt credit ratings at BBB(low), and assigned a revised trend of Stable.
"We are very pleased that Morningstar DBRS, which has rated Prospect for many years, has reaffirmed our investment grade credit ratings," said Grier Eliasek, President and Chief Operating Officer at Prospect.
“Our strong business profile is supported by a multi-decade track record, over
"With low 0.40x debt to equity leverage, high employee ownership, strong counterparty relationships, a majority senior secured loan book, low
"Prospect Capital was recently named ‘One of the Best Places to Work in the Private Capital Industry’ by Mergers & Acquisitions, with our world-class team deserving the credit for delivering these positive results over many years," said Mr. Eliasek.
About Prospect Capital Corporation
Prospect is a business development company lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.
Internal Rate of Return (“IRR”) is the discount rate that makes the net present value of all cash flows related to a particular investment equal to zero. IRR is gross of general expenses not related to specific investments as these expenses are not allocable to specific investments. Investments are considered to be exited when the original investment objective has been achieved through the receipt of cash and/or non-cash consideration upon the repayment of a debt investment or sale of an investment or through the determination that no further consideration was collectible and, thus, a loss may have been realized. Prospect’s gross IRR calculations are unaudited. Information regarding internal rates of return are historical results relating to Prospect’s past performance and are not necessarily indicative of future results, the achievement of which cannot be assured.
For further information, contact:
Grier Eliasek, President and Chief Operating Officer
grier@prospectcap.com
Telephone (212) 448-0702
FAQ
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