S&P has upgraded the outlook for the Blackstone Secured Lending Fund to positive.

Investing.com -- S&P Global Ratings has revised its outlook for the Blackstone Secured Lending Fund (BXSL) from stable to positive, citing its stable investment performance and sufficient liquidity. The long-term issuer credit and senior unsecured debt ratings of 'BBB-' have also been affirmed.

With a relatively short operating history, BXSL has maintained stable operational results, a diversified funding profile, financial flexibility, and adequate liquidity levels to meet operational needs. By the end of 2024, BXSL's liquidity is expected to reach $2.4 billion, covering its $1.7 billion unfunded commitments. The positive outlook indicates that S&P Global Ratings may upgrade BXSL's ratings in the next 12-24 months if it continues to uphold sufficient liquidity, a leverage ratio below 1.25x, stable investment portfolio performance, consistent funding, and financial flexibility.