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S&P rates HPS fund BBB-
&P Global Ratings said today it assigned its BBB- issuer credit rating to HPS Corporate Lending Fund (Hlend). The outlook is stable.
“The BBB- issuer credit rating on Hlend reflects its granular investment portfolio, expected leverage of 1x-1.25x, existing funding mix, and broader capabilities of the HPS Investment Partners platform. These benefits are partially offset by its rapid growth, short operating track record, and modest strain in its asset quality,” S&P said in a statement.
The agency said it expects Hlend to keep growing its portfolio and deliver stable asset quality over the next 12-24 months.
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