TEXT-Fitch rates Ares Capital Corp notes 'BBB'

Oct 10 - Fitch Ratings has assigned a rating of 'BBB' to Ares Capital
Corporation's (Ares) $230 million issuance of 4.75% unsecured
convertible notes. The notes will mature in January 2018.

Fitch does not believe there will be a material impact on the company's leverage
levels as a result of the issuance, as proceeds will largely be used to repay
borrowings on secured credit facilities.

RATING DRIVERS AND SENSITIVITIES

Ares currently has a Stable Rating Outlook, which reflects Fitch's expect

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