Investment Company - Ratings and Research
S&P affirms Apollo Investment
November 06, 2009 8:06 PM ET
By Jasir Jawaid
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Standard & Poor's Ratings Services on Nov. 6 affirmed its ratings on Apollo Investment Corp., including the BBB long-term counterparty credit rating, with a stable outlook. "Our ratings on Apollo Investment Corp. are based on the firm's strong capital levels, adequate performance through a severe recession, and asset liquidity that is strong relative to that of other business development companies," S&P credit analyst Jeffrey Zaun said in a news release. The stable outlook balances the firm's strong interest coverage and investment opportunities against the rating agency's expectation that credit losses may hurt earnings as default rates rise. | 
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