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Solar Senior Capital shareholders approve lower asset coverage ratio

Shareholders of Solar Senior Capital Ltd. approved the reduction of the company's asset coverage requirement to 150% from 200%.

They voted for the proposal at the annual meeting of shareholders held Oct. 11.

The company's board had previously approved the proposal, which would have become effective Aug. 2, 2019. With the shareholder approval, however, the change will take effect Oct. 12 and would permit the company to double the amount of debt it could incur.