MidCap Financial, Apollo’s primary mid-market direct origination platform, has received a credit ratings upgrade following its issuance of $3.1 billion of senior unsecured and junior subordinated notes.
Moody’s upgraded MidCap Financial’s senior unsecured notes and senior unsecured bank credit facility to Baa2 – equivalent to BBB in S&P and Fitch parlance – placing it in the investment grade category, from B1, or speculative grade.
