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S&P, Kroll withdraw ratings on Corporate Capital Trust following merger

On Dec. 20, S&P Global Ratings withdrew its BBB- issuer credit rating and Kroll withdrew its BBB issuer and senior unsecured debt ratings on Corporate Capital Trust Inc.

The withdrawals from the two rating agencies follows Corporate Capital's acquisition by FS Investment Corp., which was renamed FS KKR Capital Corp. after completion of the acquisition.

Kroll Bond Rating Agency assigned BBB issuer and senior unsecured debt ratings to FS KKR Capital Corp., with a stable outlook.

Kroll noted that the combined company has a portfolio of approximately $7.65 billion, which makes it the second-largest business development company. While FS investments brought a weaker portfolio to the table, the new entity should strengthen under the management of FS/KKR Advisor LLC, which is a partnership between then-FS Investments and KKR Credit Advisors (US) LLC.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.