Business
Capital Southwest Receives Investment Grade Rating from Fitch Ratings
Fitch assigns a first time BBB- long-term issuer rating with a stable outlook DALLAS, June 13, 2023 (GLOBE NEWSWIRE) -- Capital Southwest Corporation
About this update from Capital Southwest Corporation
[{"type":"text","content":"Fitch assigns a first time BBB- long-term issuer rating with a stable outlook\nDALLAS, June 13, 2023 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest” or “CSWC”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced that Fitch Ratings, Inc. (“Fitch”) has assigned Capital Southwest an investment grade long-term issuer rating of BBB- with a stable outlook. Factors cited by Fitch in support of its rating include the senior focus of CSWC’s investment portfolio, strong portfolio diversification, above-average asset coverage cushion, consistent operating performance, and strong funding flexibility with demonstrated access to the public debt and equity markets. The stable rating outlook reflects Fitch’s expectations for a relatively consistent portfolio mix between first lien debt and equity investments, consistent core earnings generation, solid asset quality, and the maintenance of sufficient asset coverage cushion and unsecured funding mix. About Capital Southwest Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $1.2 billion in investments at fair value as of March 31, 2023. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $35 million investments across the capital structure, including first lien, second lien and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time. Forward-Looking Statements This press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest, including, but not limited to, the statements about Capital Southwest's future performance and financial performance and financial condition. Forward-looking statements are statements that are not historical statements and can often be identified by words such as \"will,\" \"believe,\" \"expect\" and similar expressions and variations or negatives of the...