Richard Drury Ares Capital (NASDAQ:ARCC) is the largest business development company [BDC] by market capitalization. It currently offers a dividend yield of almost 9.7%, which is well-covered by its net investment income. ARCC has also shown signs of improvement in its portfolio with a decline in the percentage of its portfolio graded as the riskiest investments, i.e. those at higher risk of default. The portfolio In my previous coverage of ARCC, I looked at the portfolio and the risk of rising non-accr ...