10:52 AM EDT, 05/20/2024 (MT Newswires) -- Fitch Ratings on Monday upgraded the long-term issuer default ratings of Hannon Armstrong Sustainable Infrastructure Capital ( HASI ) and its indirect subsidiaries to BBB- from BB+, citing the company's enhanced business profile and funding flexibility.

The rating outlook is stable amid expectation that the company will continue to expand and diversify while keeping leverage within its target range, Fitch said.

The upgrade also took into account the company's strong asset quality and solid operating performance, Fitch said.

Fitch also assigned a new secured term loan a rating of BBB and new unsecured convertible debt and unsecured term loan facility ratings of BBB-, the rating agency said.

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