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N-2 - $ / shares | 6 Months Ended |  |  |
--- | --- | --- | --- | ---
Mar. 31, 2025 | Sep. 30, 2024 | Mar. 31, 2024 | Sep. 30, 2023
Cover [Abstract] |  |  |  |
Entity Central Index Key | 0001504619 |  |  |
Amendment Flag | false |  |  |
Securities Act File Number | 814-00891 |  |  |
Document Type | 10-Q |  |  |
Entity Registrant Name | PENNANTPARK FLOATING RATE CAPITAL LTD. |  |  |
Entity Address, Address Line One | 1691 Michigan Avenue |  |  |
Entity Address, City or Town | Miami Beach |  |  |
Entity Address, State or Province | FL |  |  |
Entity Address, Postal Zip Code | 33139 |  |  |
City Area Code | 786 |  |  |
Local Phone Number | 297-9500 |  |  |
Entity Emerging Growth Company | false |  |  |
General Description of Registrant [Abstract] |  |  |  |
Investment Objectives and Practices [Text Block] | PennantPark Floating Rate Capital Ltd. (the "Company," "we," "our" or "us") is a business development company ("BDC") whose objectives are to generate both current income and capital appreciation while seeking to preserve capital by investing primarily in floating rate loans and other investments made to U.S. middle-market companies. We believe that floating rate loans to U.S. middle-market companies offer attractive risk-reward to investors due to a limited amount of capital available for such companies. We use the term “middle-market” to refer to companies with annual revenues between $50 million and $1 billion. Our investments are typically rated below investment grade. Securities rated below investment grade are often referred to as “leveraged loans,” “high yield” securities or “junk bonds” and are often higher risk compared to debt instruments that are rated above investment grade and have speculative characteristics. However, when compared to junk bonds and other non-investment grade debt, senior secured floating rate loans typically have more robust capital-preserving qualities, such as historically lower default rates than junk bonds, represent the senior source of capital in a borrower’s capital structure and often have certain of the borrower’s assets pledged as collateral. Our debt investments may generally range in maturity from three to ten years and are made to U.S. and, to a limited extent, non-U.S. corporations, partnerships and other business entities which operate in various industries and geographical regions. Under normal market conditions, we generally expect that at least 80% of the value of our managed assets will be invested in floating rate loans and other investments bearing a variable-rate of interest. We generally expect that first lien secured debt will represent at least 65% of our overall portfolio. We also generally expect to invest up to 35% of our overall portfolio opportunistically in other types of investments, including second lien secured debt and subordinated debt and, to a lesser extent, equity investments. We seek to create a diversified portfolio by generally targeting an investment size between $5 million and $30 million, on average, although we expect that this investment size will vary proportionately with the size of our capital base. Our investment activity depends on many factors, including the amount of debt and equity capital available to middle-market companies, the level of merger and acquisition activity for such companies, the general economic environment and the competitive environment for the types of investments we make. We have used, and expect to continue to use, our debt capital, proceeds from the rotation of our portfolio and proceeds from public and private offerings of securities to finance our investment objectives. |  |  |
Risk Factors [Table Text Block] | Item 1A. Risk Factors In addition to the other information set forth in this Report, you should consider carefully the factors discussed below, as well as in Part I “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 filed on November 26, 2024, which could materially affect our business, financial condition and/or operating results. The risks described as in our Annual Report on Form 10-K are not the only risks facing PennantPark Floating Rate Capital Ltd. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results. Changes to U.S. tariff and import/export regulations may have a negative effect on our portfolio companies. There have been significant changes to U.S. trade policies, treaties and tariffs, and in the future there may be additional significant changes. Existing or new tariffs imposed on foreign goods imported by the United States or on U.S. goods imported by foreign countries could subject us or our portfolio companies to additional risks. Among other effects, tariffs may increase the cost of production for certain of our portfolio companies or reduce demand for their products, which could adversely affect their results of operations. We cannot predict whether, or to what extent, any tariff or other trade protections may affect our portfolio companies or our business, financial condition or results of operations. |  |  |
NAV Per Share | $ 11.07 | $ 11.31 | $ 11.4 | $ 11.13

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