In a research report, National Securities reissued its buy rating on shares of Monroe Capital.

National Securities said, “Monroe Capital’s portfolio grew 11.8% Q/Q to $282.5 million, something we expect to continue as Monroe indicated its pipeline is very strong for the remainder of 2015.”

National Securities noted that Monroe Capital’s secondary offering during the quarter deleveraged the balance sheet “significantly” with regulatory (SBIC excluded) D/E (debt-to-equity) falling to 0.30x from 0.67x the quarter prior.

With commitments on its credit facility increased to $135 million with only $49.7 million drawn, Monroe Capital has adequate capacity to continue to fund portfolio growth, National Securities said.

Access the full National Securities news release here.