Hercules Capital Receives a BBB+ Reaffirmed Investment Grade Corporate Rating from Kroll Bond Rating Agency, Inc.
19 Agosto 2024 - 3:05PM
Business Wire
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the
“Company”), the largest and leading specialty financing provider to
innovative venture, growth and established stage companies backed
by some of the leading and top-tier venture capital and select
private equity firms, today announced that Kroll Bond Rating
Agency, Inc. (“KBRA”) has reaffirmed Hercules’ investment grade
corporate and credit rating of BBB+. KBRA issued a statement
announcing the reaffirmation of the rating and stable outlook, as
well as its underlying analysis.
“We are very pleased that KBRA has reaffirmed our BBB+
investment grade corporate and credit rating,” stated Seth Meyer,
chief financial officer of Hercules. “This rating exemplifies our
strong 20-year operating record and further validates our
differentiated business model, scale and institutionalized lending
platform.”
The affirmed BBB+ rating reflects the Company’s diversified
investment portfolio with a focus on senior secured first lien
venture debt investments in the technology and life sciences
sectors, solid 20-year operating record, including during the
global financial crisis, and appropriate leverage metrics. The
Company’s solid credit quality has benefited from the Company’s
robust risk management and solid investment team with years of
experience in the venture capital space. Furthermore, the ratings
are supported by the Company’s proven access to capital markets,
diversified funding mix and high proportion of unsecured debt to
total debt outstanding allowing for solid protection for
noteholders.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest
specialty finance company focused on providing senior secured
venture growth loans to high-growth, innovative venture
capital-backed companies in a broad variety of technology and life
sciences industries. Since inception (December 2003), Hercules has
committed more than $20 billion to over 660 companies and is the
lender of choice for entrepreneurs and venture capital firms
seeking growth capital financing. Companies interested in learning
more about financing opportunities should contact info@htgc.com, or
call 650.289.3060.
Hercules, through its wholly owned subsidiary business, Hercules
Adviser LLC (the “Adviser Subsidiary”), also maintains an asset
management business through which it manages investments for
external parties (“Adviser Funds”). The Adviser Subsidiary is
registered as an investment adviser under the Investment Advisers
Act of 1940.
Hercules’ common stock trades on the New York Stock Exchange
(NYSE) under the ticker symbol “HTGC.” In addition, Hercules has
one retail bond issuance of 6.25% Notes due 2033 (NYSE: HCXY).
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. We may use words such as “anticipates,” “believes,”
“expects,” “intends,” “will,” “should,” “may” and similar
expressions to identify forward-looking statements. Forward-looking
statements are not guarantees of future performance and should not
be relied upon in making any investment decision. Such statements
are based on currently available operating, financial and
competitive information and are subject to various risks and
uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations. While
we cannot identify all such risks and uncertainties, we urge you to
read the risks discussed in our Annual Report on Form 10-K and
other materials that we publicly file with the Securities and
Exchange Commission. Any forward-looking statements made in this
press release are made only as of the date hereof. Hercules assumes
no obligation to update any such statements in the future.
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Michael Hara Investor Relations and Corporate Communications
Hercules Capital, Inc. 650-433-5578 mhara@htgc.com
Hercules Capital (NYSE:HTGC)
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