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<!--XBRL Document Created with the Workiva Platform-->
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  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ck0001515940_StateStreetCreditFacilityMember_label_en-US" xlink:label="lab_ck0001515940_StateStreetCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">State Street Credit Facility [Member]</link:label>
    <link:label id="lab_ck0001515940_StateStreetCreditFacilityMember_documentation_en-US" xlink:label="lab_ck0001515940_StateStreetCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">State Street Credit Facility</link:label>
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    <link:label id="lab_ck0001515940_GlobalEconomicAndMarketConditionsRiskMember_label_en-US" xlink:label="lab_ck0001515940_GlobalEconomicAndMarketConditionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Global Economic And Market Conditions Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_GlobalEconomicAndMarketConditionsRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_GlobalEconomicAndMarketConditionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Global Economic And Market Conditions Risk</link:label>
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    <link:label id="lab_ck0001515940_LiquidityRiskMember_label_en-US" xlink:label="lab_ck0001515940_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liquidity Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_LiquidityRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Liquidity Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_LiquidityRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_LiquidityRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001515940_LiquidityRiskMember" xlink:to="lab_ck0001515940_LiquidityRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_SecondLienRiskMember_label_en-US" xlink:label="lab_ck0001515940_SecondLienRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Second Lien Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_SecondLienRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_SecondLienRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Second Lien Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_SecondLienRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_SecondLienRiskMember"/>
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    <link:label id="lab_ck0001515940_LeverageRiskMember_label_en-US" xlink:label="lab_ck0001515940_LeverageRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leverage Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_LeverageRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_LeverageRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leverage Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_LeverageRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_LeverageRiskMember"/>
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    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_IssuerRiskMember_label_en-US" xlink:label="lab_ck0001515940_IssuerRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issuer Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_IssuerRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_IssuerRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Issuer Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_IssuerRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_IssuerRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001515940_IssuerRiskMember" xlink:to="lab_ck0001515940_IssuerRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditRiskContractMember_label_en-US" xlink:label="lab_us-gaap_CreditRiskContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Risk Contract [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditRiskContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditRiskContractMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditRiskContractMember" xlink:to="lab_us-gaap_CreditRiskContractMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_MarketDiscountRiskMember_label_en-US" xlink:label="lab_ck0001515940_MarketDiscountRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Discount Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_MarketDiscountRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_MarketDiscountRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Discount Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_MarketDiscountRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_MarketDiscountRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001515940_MarketDiscountRiskMember" xlink:to="lab_ck0001515940_MarketDiscountRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_MarketRiskMember_label_en-US" xlink:label="lab_ck0001515940_MarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_MarketRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_MarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_MarketRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_MarketRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001515940_MarketRiskMember" xlink:to="lab_ck0001515940_MarketRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_PrepaymentAndExtensionRiskMember_label_en-US" xlink:label="lab_ck0001515940_PrepaymentAndExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepayment And Extension Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_PrepaymentAndExtensionRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_PrepaymentAndExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prepayment And Extension Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_PrepaymentAndExtensionRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_PrepaymentAndExtensionRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001515940_PrepaymentAndExtensionRiskMember" xlink:to="lab_ck0001515940_PrepaymentAndExtensionRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_ForeignInvestmentRiskMember_label_en-US" xlink:label="lab_ck0001515940_ForeignInvestmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Investment Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_ForeignInvestmentRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_ForeignInvestmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Investment Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_ForeignInvestmentRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_ForeignInvestmentRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001515940_ForeignInvestmentRiskMember" xlink:to="lab_ck0001515940_ForeignInvestmentRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001515940_HighYieldRiskMember_label_en-US" xlink:label="lab_ck0001515940_HighYieldRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">High Yield Risk [Member]</link:label>
    <link:label id="lab_ck0001515940_HighYieldRiskMember_documentation_en-US" xlink:label="lab_ck0001515940_HighYieldRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">High Yield Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001515940_HighYieldRiskMember" xlink:href="ck0001515940-20260430.xsd#ck0001515940_HighYieldRiskMember"/>
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