Fitch Assigns BBB- Rating for TPG Specialty Lending
TPG Specialty Lending announced that Fitch Ratings has assigned the company investment grade ratings of BBB-; the Rating Outlook is Stable. The Fitch ratings follow Standard and Poor’s assignment of a BBB- rating in March 2014.
“We are pleased with the investment grade ratings assigned to us by Fitch Ratings, and to have joined a select group of our Business Development Company peers who are rated investment grade by multiple ratings agencies. We believe these ratings are a reflection of our investment strategy, the quality of our portfolio, and our dedicated team and resources,” said co-CEO Joshua Easterly.
“Fitch’s ratings further strengthen our competitive positioning as a capital provider to the middle market,” added co-CEO Michael Fishman.
TSL is a specialty finance company focused on lending to middle-market companies. TSL seeks to generate current income primarily in U.S.-domiciled middle-market companies through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine loans and investments in corporate bonds and equity securities.