Prospect Capital's Credit Ratings Reaffirmed Investment Grade by Morningstar DBRS with Stable Trend

Core Viewpoint - Prospect Capital Corporation has had its investment grade issuer and long-term senior debt credit ratings reaffirmed at BBB(low) by Morningstar DBRS, with a revised trend of Stable [1]. Group 1: Company Performance and Financials - Prospect has a strong business profile, with over $21 billion invested across more than 400 investments and$4.7 billion in cumulative principal bond repayments [3]. - The company has diversified access to multiple capital markets, including a $2.1 billion credit facility with 48 institutional banks, and maintains a disciplined deal execution with a less than 1% book to look ratio from over 3,000 origination opportunities annually [3]. - Prospect's leverage is low at 0.40x debt to equity, with a majority of its loan book being senior secured loans and a low nonaccrual rate of 0.4% [4]. - The company reports a 13% unlevered investment level gross cash internal rate of return for exited investments as of the latest reporting period [4]. Group 2: Recognition and Workplace Environment - Prospect Capital was recognized as 'One of the Best Places to Work in the Private Capital Industry' by Mergers & Acquisitions, attributing this success to its world-class team [5]. Group 3: Company Structure and Objectives - Prospect Capital Corporation operates as a business development company, focusing on lending to and investing in private businesses, aiming to generate both current income and long-term capital appreciation through debt and equity investments [6].