Prospect Capital’s Credit Ratings Reaffirmed Investment Grade by Egan-Jones Ratings Company
Prospect Capital (NASDAQ: PSEC) has received a reaffirmation of its investment grade credit ratings from Egan-Jones Ratings Company. The company maintained its BBB rating for issuer and institutional notes, while its preferred stock retained a BBB- rating.
The ratings reflect Prospect's strong franchise, consistent long-term performance, and conservative leverage strategy. The company's President and COO, Grier Eliasek, highlighted their ongoing portfolio rotation strategy, noting that over 95% of originations in the first two quarters of fiscal 2025 were focused on first lien senior secured loans.
Prospect Capital (NASDAQ: PSEC) ha ricevuto una conferma delle sue valutazioni di credito di investimento da parte di Egan-Jones Ratings Company. L'azienda ha mantenuto il suo rating BBB per l'emittente e le note istituzionali, mentre le sue azioni privilegiate hanno conservato un rating BBB-.
Le valutazioni riflettono la forte posizione di Prospect, le prestazioni costanti a lungo termine e una strategia di leva conservativa. Il presidente e COO dell'azienda, Grier Eliasek, ha evidenziato la loro strategia di rotazione del portafoglio in corso, notando che oltre il 95% delle origini nei primi due trimestri dell'esercizio 2025 si è concentrato su prestiti senior garantiti di primo grado.
Prospect Capital (NASDAQ: PSEC) ha recibido una reafirmación de sus calificaciones crediticias de grado de inversión por parte de Egan-Jones Ratings Company. La compañía mantuvo su calificación BBB para notas de emisor e institucionales, mientras que sus acciones preferentes retuvieron una calificación BBB-.
Las calificaciones reflejan la sólida franquicia de Prospect, su rendimiento consistente a largo plazo y una estrategia de apalancamiento conservadora. El presidente y COO de la compañía, Grier Eliasek, destacó su estrategia de rotación de cartera en curso, señalando que más del 95% de las originaciones en los dos primeros trimestres del ejercicio fiscal 2025 se centraron en préstamos senior garantizados de primer gravamen.
Prospect Capital (NASDAQ: PSEC)는 Egan-Jones Ratings Company로부터 투자 등급 신용 등급의 재확인을 받았습니다. 회사는 발행자 및 기관 노트에 대해 BBB 등급을 유지했으며, 우선주도 BBB- 등급을 유지했습니다.
이 등급은 Prospect의 강력한 프랜차이즈, 일관된 장기 성과 및 보수적인 레버리지 전략을 반영합니다. 회사의 사장 겸 COO인 Grier Eliasek는 현재 진행 중인 포트폴리오 회전 전략을 강조하며, 2025 회계연도 첫 두 분기 동안의 원금의 95% 이상이 선순위 담보 대출에 집중되었다고 언급했습니다.
Prospect Capital (NASDAQ: PSEC) a reçu une réaffirmation de ses notations de crédit de qualité d'investissement de la part d'Egan-Jones Ratings Company. L'entreprise a maintenu sa notation BBB pour les émetteurs et les notes institutionnelles, tandis que ses actions privilégiées ont conservé une notation BBB-.
Les notations reflètent la forte position de Prospect, sa performance constante à long terme et une stratégie de levier conservatrice. Le président et COO de l'entreprise, Grier Eliasek, a souligné leur stratégie de rotation de portefeuille en cours, notant que plus de 95 % des origines au cours des deux premiers trimestres de l'exercice 2025 étaient axées sur des prêts garantis de premier rang.
Prospect Capital (NASDAQ: PSEC) hat eine Bestätigung seiner Investment-Grade-Kreditratings von der Egan-Jones Ratings Company erhalten. Das Unternehmen behielt sein BBB-Rating für Emittenten- und institutionelle Anleihen bei, während die Vorzugsaktien ein BBB- Rating beibehielten.
Die Ratings spiegeln die starke Position von Prospect, die konsistenten langfristigen Leistungen und eine konservative Verschuldungsstrategie wider. Der Präsident und COO des Unternehmens, Grier Eliasek, hob die laufende Portfoliowechselstrategie hervor und stellte fest, dass über 95 % der Neugeschäfte in den ersten beiden Quartalen des Geschäftsjahres 2025 auf vorrangige gesicherte Darlehen konzentriert waren.
- Maintained BBB investment grade credit rating for issuer and institutional notes
- 95% of new originations are first lien senior secured loans, indicating strong collateral position
- Conservative leverage strategy enhancing credit profile
- None.
NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect", “our”, or “we”) today announced that Egan-Jones Ratings Company ("Egan-Jones") has reaffirmed Prospect’s investment grade issuer and institutional notes credit ratings at BBB, and preferred stock credit ratings at BBB-.
"We are very pleased that Egan-Jones has reaffirmed our issuer investment grade credit rating as well as investment grade credit ratings for our institutional notes and preferred stock," said Grier Eliasek, President and Chief Operating Officer at Prospect.
“We believe these investment grade credit ratings reflect the strength of Prospect's solid franchise, long term performance, and low leverage,” said Mr. Eliasek.
“We continue to execute our investment portfolio rotation strategy to emphasize first lien senior secured lending, with over
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.
For further information, contact:
Grier Eliasek, President and Chief Operating Officer
grier@prospectcap.com
Telephone (212) 448-0702
FAQ
What credit rating did Egan-Jones assign to Prospect Capital (PSEC) in April 2025?
What percentage of PSEC's originations were first lien senior secured loans in early fiscal 2025?
How does PSEC's investment portfolio rotation strategy focus on loan security?
What factors contributed to PSEC maintaining its investment grade credit rating?
