Kroll Bond Rating Agency has affirmed its issuer rating of A+ for StoneCastle Financial Corp.
The ratings reflect the company's closed-end fund rating as measured by the credit quality of the underlying instruments that comprise its portfolio.
The qualitative assessment of the company's investment adviser StoneCastle Asset Management LLC, which received a strong qualitative shadow rating, also impacted the ratings.
The company's targeted leverage is composed of a mix of notes, preferred shares and revolving credit facility. As of Sept. 30, 2017, the company had outstanding borrowings under the credit facility of roughly $36.5 million, equaling total leverage of around 20%.