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Fitch removes BlackRock Capital Investment's ratings from Rating Watch Negative

Fitch Ratings affirmed BlackRock Capital Investment Corp.'s long-term issuer default rating, senior secured debt and senior unsecured debt ratings at BB+ and removed the ratings from Rating Watch Negative.

The ratings outlook is stable.

Among the factors Fitch considered in affirming the ratings is the company's affiliation with global investment manager BlackRock Inc. The rating agency believes this provides BlackRock Capital Investment with enhanced risk management and back office capabilities, Wall Street relationships, and broader industry and market insights.

The removal of the ratings from Rating Watch Negative follows the recent disclosure that the company entered into an amendment to its senior secured revolving credit agreement.

The amendment reduced the minimum shareholders' equity requirement to $375 million plus 25% of the net proceeds of the sale of equity interests by the company and its subsidiaries. Additionally, it lowered the aggregate amount of the multicurrency commitments under the facility to $340 million.