Business improvement corporations ought to stand up to 2024 financial slowdown, however credit score circumstances will weaken, Fitch says

Ares Capital Corp. and Sixth Street Specialty Lending Inc. held onto the best debt scores among the many 21 enterprise improvement corporations coated by Fitch Ratings, amid expectations that the sector will face financial headwinds in 2024, however with no main affect to their steadiness sheets.

Ares ARCC and Sixth Street TSLX are each retaining their scores of BBB/secure, the best grades among the many BDCs in Fitch’s universe, which incorporates largely publicly traded BDCs and some non-public ones.

In…