Prospect Capital’s Credit Ratings Reaffirmed Investment Grade by Egan-Jones Ratings Company
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 95% of originations in our first two quarters of fiscal 2025 comprising first lien senior secured loans,” 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.
For further information, contact:
Grier Eliasek, President and Chief Operating Officer
Telephone (212) 448-0702
