Ares Capital Corporation
ARCC|BDC|CIK: 1287750
AGENCY SAYS
Moody'sBBB-
S&PBBB
FitchBBB
OutlookStable
NICK SAYS
Nick's Mark0.82
FCF Conv.55%
LTV Est.68%
"Portfolio concentration risk in middle market direct lending"
CROWD SAYS
Upgrade
0.0%
Hold
60.0%
Downgrade 1
28.0%
Downgrade 2+
9.0%
Default
3.0%
Implied RatingBBB-
Implied Spread+260bps
PER-AGENCY DOWNGRADE ODDS — Q2 2026
Moody's
18.0%
S&P
15.0%
Fitch
22.0%
WHO DOWNGRADES FIRST?
Moody's
25.0%
25¢
S&P
20.0%
20¢
Fitch
35.0%
35¢
None
20.0%
20¢
MARKETS (3) — click to expand