Fitch revises New Mountain Finance's Outlook to Negative, affirms 'BBB-'

Fitch affirmed New Mountain Finance Corporation's (NMFC) Long-Term IDR at 'BBB-' and revised the Outlook to Negative, as part of its 8-BDC peer review.

Why it matters for deal teams: 'BBB-' is the lowest investment-grade rating, so the Outlook matters for a BDC that funds with unsecured notes.