KBRA Releases Research – Coronavirus (COVID-19): KBRA Comments on Kayne Anderson MLP

NEW YORK--()--Kroll Bond Rating Agency (KBRA) has releases a report on Kayne Anderson MLP/Midstream Investment Company. The Fund is registered under the Investment Company Act of 1940 and sponsored by Kayne Anderson Capital Advisors.

In response to the dramatic declines in oil prices as a result of the coronavirus (COVID-19) outbreak, the Fund has taken proactive steps to increase its liquidity position and reduce outstanding indebtedness. As a fund registered under the Investment Company Act of 1940, management is highly incentivized to maintain its asset coverage cushion.

KBRA currently maintains AAA and A+ long-term ratings on the senior notes and preferred shares (MRPS) of the Fund, respectively. At this time, KBRA is not taking any action on the outstanding ratings assigned to the senior notes and MRPS. However, we will continue to closely monitor the Fund as events unfold in the market.

Click here to view the report.

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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.

Contacts

Analytical Contacts

Gopal Narsimhamurthy, Director
+1 (646) 731-3392
gnarsimhamurthy@kbra.com

Peter Giacone, Managing Director
+1 (646) 731-2407
pgiacone@kbra.com

Pramit Sheth, Managing Director
+1 (646) 731-2330
psheth@kbra.com

Business Development Contact

Sted Dowd, Managing Director
+1 (646) 731-2479
sdowd@kbra.com

Contacts

Analytical Contacts

Gopal Narsimhamurthy, Director
+1 (646) 731-3392
gnarsimhamurthy@kbra.com

Peter Giacone, Managing Director
+1 (646) 731-2407
pgiacone@kbra.com

Pramit Sheth, Managing Director
+1 (646) 731-2330
psheth@kbra.com

Business Development Contact

Sted Dowd, Managing Director
+1 (646) 731-2479
sdowd@kbra.com