Hercules Receives a BBB+ Reaffirmed Investment Grade Corporate Rating From Kroll Bond Rating Agency, Inc.
October 19 2017 - 3:05PM
Business Wire
Hercules Capital, Inc. (NYSE:HTGC) (“Hercules” or the
“Company”), the leading specialty financing provider to innovative
venture growth stage companies backed by leading venture capital
firms, today announced that Kroll Bond Rating Agency, Inc. (“KBRA”)
has reaffirmed Hercules’ investment grade corporate 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 once again reaffirmed our
BBB+ investment grade corporate rating,” stated Mark R. Harris,
chief financial officer of Hercules. “Being one of the few BDCs
with an investment grade rating is further validation of our
leading originations platform coupled with our stringent
underwriting standards, which provides us with access to both the
debt and equity capital markets to support our ‘slow and steady’
growth strategy.”
The affirmed BBB+ rating reflects the Company’s focus on senior
secured debt, positive asset quality performance, and appropriate
leverage metrics. The ratings are also supported by Hercules’
proven access to the capital markets, its expertise in investing in
venture-backed companies with strong growth potential as well as
robust risk management and monitoring practices.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) 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, life
sciences and sustainable and renewable technology industries. Since
inception (December 2003), Hercules has committed more than $6.9
billion to over 380 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’ common stock trades on the New York Stock Exchange
(NYSE) under the ticker symbol "HTGC." In addition, Hercules has
one outstanding bond issuance of 6.25% Unsecured Notes due July
2024 (NYSE: HTGX)
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. You should understand that under Section 27A(b)(2)(B) of
the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of
the Securities Exchange Act of 1934, as amended, or the Exchange
Act, the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995 do not apply to forward-looking
statements made in periodic reports we file under the Exchange
Act.
The information disclosed in this press release is made as of
the date hereof and reflects Hercules most current assessment of
its historical financial performance. Actual financial results
filed with the SEC may differ from those contained herein due to
timing delays between the date of this release and confirmation of
final audit results. These forward-looking statements are not
guarantees of future performance and are subject to uncertainties
and other factors that could cause actual results to differ
materially from those expressed in the forward-looking statements
including, without limitation, the risks, uncertainties, including
the uncertainties surrounding the current market volatility, and
other factors the Company identifies from time to time in its
filings with the SEC. Although Hercules believes that the
assumptions on which these forward-looking statements are based are
reasonable, any of those assumptions could prove to be inaccurate
and, as a result, the forward-looking statements based on those
assumptions also could be incorrect. You should not place undue
reliance on these forward-looking statements. The forward-looking
statements contained in this release are made as of the date
hereof, and Hercules assumes no obligation to update the
forward-looking statements for subsequent events.
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Hercules Capital, Inc.Michael Hara, 650-433-5578 HT-HNInvestor
Relations and Corporate Communicationsmhara@htgc.com
Hercules Capital (NYSE:HTGC)
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