Ares Capital Corp. and Sixth Street Specialty Lending Inc. held onto the highest debt ratings among the 21 business development companies covered by Fitch Ratings, amid expectations that the sector will face economic headwinds in 2024, but with no major impact to their balance sheets.

Ares ARCC and Sixth Street TSLX are both retaining their ratings of BBB/stable, the highest grades among the BDCs in Fitch’s universe, which includes mostly publicly traded BDCs and a few private ones.


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