Crescent Capital BDC, Inc. Reports Fourth Quarter 2024 Earnings Results; Declares a First Quarter Base Dividend of $0.42 Per Share and Series of Special Dividends
Crescent Capital BDC (NASDAQ: CCAP) reported its Q4 and full-year 2024 financial results. The company achieved net investment income of $2.40 per share and net income of $1.99 per share for the full year 2024. For Q4 2024, net investment income was $0.55 and net income was $0.27 per share.
The Board declared a Q1 2025 regular cash dividend of $0.42 per share and announced special cash dividends totaling $0.15 per share, to be paid in three quarterly installments of $0.05 each. The company's NAV per share stood at $19.98 as of December 31, 2024.
Investment income for 2024 increased to $197.4 million from $184.1 million in 2023. The company's portfolio included investments in 185 companies with an aggregate fair value of $1,598.9 million. The company maintained strong liquidity with $39.4 million in cash and $337.5 million of undrawn capacity on credit facilities.
Crescent Capital BDC (NASDAQ: CCAP) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024. L'azienda ha ottenuto un reddito netto da investimenti di $2,40 per azione e un reddito netto di $1,99 per azione per l'intero anno 2024. Per il quarto trimestre 2024, il reddito netto da investimenti è stato di $0,55 e il reddito netto di $0,27 per azione.
Il Consiglio ha dichiarato un dividendo regolare in contante per il primo trimestre 2025 di $0,42 per azione e ha annunciato dividendi speciali in contante per un totale di $0,15 per azione, che saranno pagati in tre rate trimestrali da $0,05 ciascuna. Il valore netto degli attivi (NAV) per azione dell'azienda era di $19,98 al 31 dicembre 2024.
Il reddito da investimenti per il 2024 è aumentato a $197,4 milioni rispetto ai $184,1 milioni del 2023. Il portafoglio dell'azienda includeva investimenti in 185 aziende con un valore equo aggregato di $1.598,9 milioni. L'azienda ha mantenuto una forte liquidità con $39,4 milioni in contante e $337,5 milioni di capacità non utilizzata su linee di credito.
Crescent Capital BDC (NASDAQ: CCAP) reportó sus resultados financieros del cuarto trimestre y del año completo 2024. La empresa logró un ingreso neto por inversiones de $2.40 por acción y un ingreso neto de $1.99 por acción para el año completo 2024. Para el cuarto trimestre de 2024, el ingreso neto por inversiones fue de $0.55 y el ingreso neto fue de $0.27 por acción.
La Junta declaró un dividendo regular en efectivo para el primer trimestre de 2025 de $0.42 por acción y anunció dividendos especiales en efectivo que suman $0.15 por acción, que se pagarán en tres pagos trimestrales de $0.05 cada uno. El NAV por acción de la empresa se situó en $19.98 al 31 de diciembre de 2024.
Los ingresos por inversiones para 2024 aumentaron a $197.4 millones desde $184.1 millones en 2023. El portafolio de la empresa incluyó inversiones en 185 empresas con un valor justo agregado de $1,598.9 millones. La empresa mantuvo una sólida liquidez con $39.4 millones en efectivo y $337.5 millones de capacidad no utilizada en líneas de crédito.
Crescent Capital BDC (NASDAQ: CCAP)는 2024년 4분기 및 전체 연도 재무 결과를 발표했습니다. 이 회사는 2024년 전체 연도 동안 주당 $2.40의 순 투자 수익과 주당 $1.99의 순이익을 기록했습니다. 2024년 4분기 동안 순 투자 수익은 $0.55, 순이익은 주당 $0.27이었습니다.
이사회는 2025년 1분기 정기 현금 배당금을 주당 $0.42로 선언하고, 총 $0.15의 특별 현금 배당금을 발표했으며, 이는 각각 $0.05씩 세 번의 분기별 지급으로 지급될 예정입니다. 회사의 주당 순자산가치(NAV)는 2024년 12월 31일 기준으로 $19.98로 집계되었습니다.
2024년 투자 수익은 2023년의 $184.1백만에서 $197.4백만으로 증가했습니다. 회사의 포트폴리오에는 총 공정 가치가 $1,598.9백만인 185개 기업에 대한 투자가 포함되어 있습니다. 회사는 $39.4백만의 현금과 $337.5백만의 사용되지 않은 신용 한도로 강력한 유동성을 유지했습니다.
Crescent Capital BDC (NASDAQ: CCAP) a publié ses résultats financiers du quatrième trimestre et de l'année complète 2024. L'entreprise a réalisé un revenu net d'investissement de 2,40 $ par action et un revenu net de 1,99 $ par action pour l'année complète 2024. Pour le quatrième trimestre 2024, le revenu net d'investissement était de 0,55 $ et le revenu net de 0,27 $ par action.
Le Conseil a déclaré un dividende régulier en espèces de 0,42 $ par action pour le premier trimestre 2025 et a annoncé des dividendes spéciaux en espèces totalisant 0,15 $ par action, qui seront versés en trois versements trimestriels de 0,05 $ chacun. La valeur nette d'actifs (NAV) de l'entreprise s'élevait à 19,98 $ au 31 décembre 2024.
Les revenus d'investissement pour 2024 ont augmenté à 197,4 millions de dollars contre 184,1 millions de dollars en 2023. Le portefeuille de l'entreprise comprenait des investissements dans 185 entreprises avec une valeur juste totale de 1 598,9 millions de dollars. L'entreprise a maintenu une forte liquidité avec 39,4 millions de dollars en espèces et 337,5 millions de dollars de capacité de crédit non utilisée.
Crescent Capital BDC (NASDAQ: CCAP) hat die finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht. Das Unternehmen erzielte ein Nettoinvestitionseinkommen von $2,40 pro Aktie und ein Nettoeinkommen von $1,99 pro Aktie für das gesamte Jahr 2024. Im vierten Quartal 2024 betrug das Nettoinvestitionseinkommen $0,55 und das Nettoeinkommen $0,27 pro Aktie.
Der Vorstand erklärte eine reguläre Barausschüttung für das erste Quartal 2025 von $0,42 pro Aktie und kündigte spezielle Barausschüttungen in Höhe von insgesamt $0,15 pro Aktie an, die in drei vierteljährlichen Raten von jeweils $0,05 ausgezahlt werden. Der NAV pro Aktie des Unternehmens betrug zum 31. Dezember 2024 $19,98.
Die Einnahmen aus Investitionen für 2024 stiegen auf $197,4 Millionen von $184,1 Millionen im Jahr 2023. Das Portfolio des Unternehmens umfasste Investitionen in 185 Unternehmen mit einem Gesamtwert von $1.598,9 Millionen. Das Unternehmen hielt eine starke Liquidität mit $39,4 Millionen in bar und $337,5 Millionen nicht genutztem Kreditrahmen.
- Investment income increased 7.2% YoY to $197.4 million in 2024
- Interest income grew to $183.0 million in 2024 from $169.8 million in 2023
- Board approved special dividends totaling $0.15 per share in addition to regular dividend
- Portfolio expansion with $395.0 million invested across 33 new portfolio companies in 2024
- Q4 2024 investment income decreased to $46.4 million from $51.6 million in Q3 2024
- Total expenses increased to $108.4 million in 2024 from $101.6 million in 2023
- Interest and debt financing costs rose to $62.8 million in 2024 from $58.8 million in 2023
- Dividend income decreased to $11.3 million in 2024 from $13.3 million in 2023
Insights
The Q4 2024 results reveal several key insights for investors in Crescent Capital BDC. The company's net investment income of $0.55 per share for Q4 2024 comfortably covers the base quarterly dividend of $0.42, representing a healthy 131% coverage ratio. The additional special dividend program totaling $0.15 per share, to be paid in three installments, indicates strong earnings generation and efficient tax management.
Portfolio performance metrics demonstrate resilient fundamentals. The company's investment portfolio fair value increased to $1,598.9 million, reflecting modest growth despite challenging market conditions. The weighted average cost of debt at 6.38% and leverage ratio of 1.19x indicate prudent balance sheet management, providing adequate cushion below the regulatory limit of 2.0x.
However, investors should note the sequential decline in quarterly investment income from $51.6M in Q3 to $46.4M in Q4 2024, primarily due to lower benchmark rates. This highlights the company's sensitivity to interest rate movements, though the impact is partially mitigated by floating rate loans in the portfolio.
The company's investment activity shows strategic positioning, with $395.0M deployed across 33 new and 30 existing portfolio companies in 2024, while maintaining selective investment criteria. The available liquidity of $337.5M provides ample dry powder for opportunistic investments, particularly important given potential market dislocations.
From a risk perspective, the diversified portfolio across 185 companies helps mitigate individual credit risk. The focus on senior secured first lien and unitranche investments demonstrates a conservative approach to credit selection, though investors should monitor credit quality metrics in upcoming quarters given the evolving economic environment.
LOS ANGELES, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of
Selected Financial Highlights
($ in millions, except per share amounts)
| As of and for the three months ended | ||||||||||||||||
| December 31, 2024 | September 30, 2024 | December 31, 2023 | ||||||||||||||
| Investments, at fair value | $ | 1,598.9 | $ | 1,591.4 | $ | 1,582.1 | ||||||||||
| Total assets | $ | 1,656.3 | $ | 1,645.0 | $ | 1,627.4 | ||||||||||
| Total net assets | $ | 740.6 | $ | 748.8 | $ | 742.6 | ||||||||||
| Net asset value per share | $ | 19.98 | $ | 20.20 | $ | 20.04 | ||||||||||
| Investment income | $ | 46.4 | $ | 51.6 | $ | 50.0 | ||||||||||
| Net investment income | $ | 20.5 | $ | 23.5 | $ | 22.8 | ||||||||||
| Net realized gains (losses), net of taxes | $ | (3.2 | ) | $ | 3.8 | $ | (6.6 | ) | ||||||||
| Net change in unrealized gains (losses), net of taxes | $ | (7.3 | ) | $ | (12.0 | ) | $ | 14.7 | ||||||||
| Net increase (decrease) in net assets resulting from operations | $ | 10.0 | $ | 15.3 | $ | 30.9 | ||||||||||
| Net investment income per share | $ | 0.55 | $ | 0.64 | $ | 0.61 | ||||||||||
| Net realized gains (losses) per share, net of taxes | $ | (0.09 | ) | $ | 0.10 | $ | (0.18 | ) | ||||||||
| Net change in unrealized gains (losses) per share, net of taxes | $ | (0.19 | ) | $ | (0.32 | ) | $ | 0.40 | ||||||||
| Net increase (decrease) in net assets resulting from operations per share | $ | 0.27 | $ | 0.41 | $ | 0.83 | ||||||||||
| Regular distributions paid per share | $ | 0.42 | $ | 0.42 | $ | 0.41 | ||||||||||
| Supplemental distributions paid per share | $ | 0.07 | $ | 0.09 | $ | 0.09 | ||||||||||
| Weighted average yield on income producing securities (at cost)2 | 10.9 | % | 11.6 | % | 12.3 | % | ||||||||||
| Percentage of debt investments at floating rates | 97.3 | % | 97.4 | % | 98.7 | % | ||||||||||
Portfolio & Investment Activity
As of December 31, 2024 and December 31, 2023, the Company had investments in 185 and 186 portfolio companies with an aggregate fair value of
| Portfolio Asset Types: | ||||||||||||||||||||
| As of | ||||||||||||||||||||
| $ in millions | December 31, 2024 | December 31, 2023 | ||||||||||||||||||
| Investment Type | Fair Value | Percentage | Fair Value | Percentage | ||||||||||||||||
| Senior secured first lien | $ | 379.7 | 23.7 | % | $ | 429.2 | 27.0 | % | ||||||||||||
| Unitranche first lien3 | 1,044.1 | 65.3 | 973.9 | 61.5 | ||||||||||||||||
| Unitranche first lien - last out3 | 14.8 | 0.9 | 13.5 | 0.9 | ||||||||||||||||
| Senior secured second lien | 38.5 | 2.4 | 58.2 | 3.7 | ||||||||||||||||
| Unsecured debt | 17.5 | 1.1 | 4.1 | 0.3 | ||||||||||||||||
| Equity & other | 64.9 | 4.1 | 50.1 | 3.2 | ||||||||||||||||
| LLC/LP equity interests | 39.4 | 2.5 | 53.1 | 3.4 | ||||||||||||||||
| Total investments | $ | 1,598.9 | 100.0 | % | $ | 1,582.1 | 100.0 | % | ||||||||||||
Full Year
For the year ended December 31, 2024, the Company invested
Fourth Quarter
For the quarter ended December 31, 2024, the Company invested
Results of Operations
Full Year
For the year ended December 31, 2024, investment income increased to
For the years ended December 31, 2024 and 2023, total expenses, including income and excise taxes, totaled
Fourth Quarter
For the quarter ended December 31, 2024, investment income decreased to
For the three months ended December 31, 2024 and September 30, 2024, total net expenses, including income and excise taxes, totaled
Liquidity and Capital Resources
As of December 31, 2024, the Company had
The Company’s debt to equity ratio was 1.19x as of December 31, 2024.
Conference Call
The Company will host a webcast/conference call on Thursday, February 20, 2025 at 12:00 p.m. (Eastern Time) to discuss its financial results for the quarter and year ended December 31, 2024. Please visit Crescent BDC’s webcast link located on the Events & Presentations page of the Investor Relations section of Crescent BDC’s website for a slide presentation that complements the earnings conference call.
All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Events & Presentations page of the Investor Resources section of Crescent BDC’s website at www.crescentbdc.com. Please visit the website to test your connection before the webcast. Participants are also invited to access the conference call by dialing the following number:
Toll Free: (800) 715-9871
Conference ID: 1217499
All callers will need to reference the Conference ID once connected with the operator. An archived replay will be available via a webcast link located on the Investor Relations section of Crescent BDC's website.
Endnotes
Note: Numbers may not sum due to rounding.
- The first special dividend will be paid on March 14, 2025 to stockholders of record as of February 28, 2025. The second special dividend will be paid on June 13, 2025 to stockholders of record as of May 30, 2025. The third special dividend will be paid on September 15, 2025 to stockholders of record as of August 29, 2025.
- Yield includes performing debt and other income producing investments (excluding investments on non-accrual).
- Unitranche loans are first lien loans that may extend deeper in a company’s capital structure than traditional first lien debt and may provide for a waterfall of cash flow priority among different lenders in the unitranche loan. In certain instances, the Company may find another lender to provide the “first out” portion of such loan and retain the “last out” portion of such loan, in which case, the “first out” portion of the loan would generally receive priority with respect to payment of principal, interest and any other amounts due thereunder over the “last out” portion that the Company would continue to hold. In exchange for the greater risk of loss, the “last out” portion earns a higher interest rate.
| Crescent Capital BDC, Inc. Consolidated Statements of Assets and Liabilities (in thousands except share and per share data) | |||||||
| As of December 31, 2024 | As of December 31, 2023 | ||||||
| Assets | |||||||
| Investments, at fair value | |||||||
| Non-controlled non-affiliated investments (cost of | $ | 1,504,013 | $ | 1,465,537 | |||
| Non-controlled affiliated investments (cost of | 46,793 | 52,619 | |||||
| Controlled investments (cost of | 48,051 | 63,919 | |||||
| Cash and cash equivalents | 10,130 | 7,780 | |||||
| Restricted cash and cash equivalents | 29,292 | 16,690 | |||||
| Interest and dividend receivable | 11,008 | 14,000 | |||||
| Receivable from unsettled transactions | 1,163 | 251 | |||||
| Unrealized appreciation on foreign currency forward contracts | 4,815 | 5,128 | |||||
| Deferred tax assets | 746 | 114 | |||||
| Other assets | 263 | 1,341 | |||||
| Total assets | $ | 1,656,274 | $ | 1,627,379 | |||
| Liabilities | |||||||
| Debt (net of deferred financing costs of | $ | 875,837 | $ | 844,783 | |||
| Distributions payable | 15,566 | 15,195 | |||||
| Interest and other debt financing costs payable | 10,408 | 10,900 | |||||
| Management fees payable | 5,066 | 5,026 | |||||
| Incentive fees payable | 4,305 | 4,770 | |||||
| Deferred tax liabilities | 746 | 578 | |||||
| Unrealized depreciation on foreign currency forward contracts | - | 84 | |||||
| Accrued expenses and other liabilities | 3,709 | 3,449 | |||||
| Total liabilities | $ | 915,637 | $ | 884,785 | |||
| Net assets | |||||||
| Preferred stock, par value zero outstanding, respectively) | $ | - | $ | - | |||
| Common stock, par value 37,061,547 shares issued and outstanding) | 37 | 37 | |||||
| Paid-in capital in excess of par value | 959,098 | 965,895 | |||||
| Accumulated earnings (loss) | (218,498 | ) | (223,338 | ) | |||
| Total net assets | $ | 740,637 | $ | 742,594 | |||
| Total liabilities and net assets | $ | 1,656,274 | $ | 1,627,379 | |||
| Net asset value per share | $ | 19.98 | $ | 20.04 | |||
| Crescent Capital BDC, Inc. Consolidated Statements of Operations (in thousands except share and per share data) | ||||||||||||
| For the years ended December 31, | ||||||||||||
| 2024 | 2023 | 2022 | ||||||||||
| Investment Income: | ||||||||||||
| From non-controlled non-affiliated investments: | ||||||||||||
| Interest income | $ | 166,912 | $ | 162,089 | $ | 101,751 | ||||||
| Paid-in-kind interest | 9,592 | 3,191 | 1,564 | |||||||||
| Dividend income | 497 | 438 | 127 | |||||||||
| Other income | 3,056 | 658 | 540 | |||||||||
| From non-controlled affiliated investments: | ||||||||||||
| Interest income | 3,834 | 2,974 | 1,625 | |||||||||
| Paid-in-kind interest | 1,529 | 816 | 2,106 | |||||||||
| Dividend income | 1,058 | 2,058 | 5,169 | |||||||||
| Other income | 16 | 309 | — | |||||||||
| From controlled investments: | ||||||||||||
| Interest income | 1,077 | 609 | 745 | |||||||||
| Paid-in-kind interest | — | 192 | 732 | |||||||||
| Dividend income | 9,784 | 10,800 | 2,358 | |||||||||
| Other income | 8 | — | — | |||||||||
| Total investment income | 197,363 | 184,134 | 116,717 | |||||||||
| Expenses: | ||||||||||||
| Interest and other debt financing costs | 62,761 | 58,742 | 31,880 | |||||||||
| Management fees | 20,223 | 19,613 | 16,344 | |||||||||
| Income based incentive fees | 18,855 | 17,451 | 11,214 | |||||||||
| Capital gains based incentive fees | — | — | (6,324 | ) | ||||||||
| Professional fees | 2,027 | 1,593 | 1,302 | |||||||||
| Directors’ fees | 618 | 600 | 524 | |||||||||
| Other general and administrative expenses | 2,561 | 2,753 | 2,660 | |||||||||
| Total expenses | 107,045 | 100,752 | 57,600 | |||||||||
| Management fees waiver | (125 | ) | (190 | ) | (229 | ) | ||||||
| Income based incentive fees waiver | (145 | ) | (276 | ) | (538 | ) | ||||||
| Net expenses | 106,775 | 100,286 | 56,833 | |||||||||
| Net investment income before taxes | 90,588 | 83,848 | 59,884 | |||||||||
| (Benefit) provision for income and excise taxes | 1,555 | 1,307 | 155 | |||||||||
| Net investment income | 89,033 | 82,541 | 59,729 | |||||||||
| Net realized and unrealized gains (losses) on investments: | ||||||||||||
| Net realized gain (loss) on: | ||||||||||||
| Non-controlled non-affiliated investments | (6,969 | ) | (12,465 | ) | 1,157 | |||||||
| Non-controlled affiliated investments | (5,214 | ) | — | 7,098 | ||||||||
| Controlled investments | 6,443 | — | (3,301 | ) | ||||||||
| Foreign currency transactions | (1,171 | ) | (1,435 | ) | (33 | ) | ||||||
| Foreign currency forward contracts | 3,223 | 1,021 | 24 | |||||||||
| Net change in unrealized appreciation (depreciation) on: | ||||||||||||
| Non-controlled non-affiliated investments and foreign currency translation | (1,154 | ) | 21,772 | (43,818 | ) | |||||||
| Non-controlled affiliated investments | 4,154 | (4,505 | ) | (9,419 | ) | |||||||
| Controlled investments | (14,931 | ) | (1,171 | ) | (1,600 | ) | ||||||
| Foreign currency forward contracts | (229 | ) | (2,954 | ) | 6,513 | |||||||
| Net realized and unrealized gains (losses) on investments | (15,848 | ) | 263 | (43,379 | ) | |||||||
| Benefit (provision) for taxes on realized gain on investments | — | 132 | (911 | ) | ||||||||
| Benefit (provision) for taxes on unrealized appreciation (depreciation) on investments | 464 | 901 | 105 | |||||||||
| Net increase (decrease) in net assets resulting from operations | $ | 73,649 | $ | 83,837 | $ | 15,544 | ||||||
| Per common share data: | ||||||||||||
| Net increase (decrease) in net assets resulting from operations per share (basic and diluted): | $ | 1.99 | $ | 2.33 | $ | 0.50 | ||||||
| Net investment income per share (basic and diluted): | $ | 2.40 | $ | 2.30 | $ | 1.93 | ||||||
| Weighted average shares outstanding (basic and diluted): | 37,061,547 | 35,928,203 | 30,887,360 | |||||||||
About Crescent BDC
Crescent BDC is a business development company that seeks to maximize the total return of its stockholders in the form of current income and capital appreciation by providing capital solutions to middle market companies with sound business fundamentals and strong growth prospects. Crescent BDC utilizes the extensive experience, origination capabilities and disciplined investment process of Crescent. Crescent BDC is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent. Crescent BDC has elected to be regulated as a business development company under the Investment Company Act of 1940. For more information about Crescent BDC, visit www.crescentbdc.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.
About Crescent Capital Group
Crescent is a global credit investment manager with
Contact:
Dan McMahon
daniel.mcmahon@crescentcap.com
212-364-0149
Forward-Looking Statements
This press release, and other statements that Crescent BDC may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Crescent BDC’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.
Crescent BDC cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which may change over time. Forward-looking statements speak only as of the date they are made, and Crescent BDC assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
In addition to factors previously disclosed in Crescent BDC’s SEC reports and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) our future operating results; (2) our business prospects and the prospects of our portfolio companies; (3) the impact of investments that we expect to make; (4) our contractual arrangements and relationships with third parties; (5) the dependence of our future success on the general economy and its impact on the industries in which we invest; (6) the financial condition of and ability of our current and prospective portfolio companies to achieve their objectives; (7) our expected financings and investments; (8) the adequacy of our cash resources and working capital, including our ability to obtain continued financing on favorable terms; (9) the timing of cash flows, if any, from the operations of our portfolio companies; (10) the impact of increased competition; (11) the ability of our investment adviser to locate suitable investments for us and to monitor and administer our investments; (12) potential conflicts of interest in the allocation of opportunities between us and other investment funds managed by our investment adviser or its affiliates; (13) the ability of our investment adviser to attract and retain highly talented professionals; (14) changes in law and policy accompanying the new administration and uncertainty pending any such changes; (15) increased geopolitical unrest, terrorist attacks or acts of war, which may adversely affect the general economy, domestic and local financial and capital markets, or the specific industries of our portfolio companies; (16) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets; (17) the unfavorable resolution of legal proceedings; and (18) the impact of changes to tax legislation and, generally, our tax position.
Crescent BDC’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC, identifies additional factors that can affect forward-looking statements.
Other Information
The information in this press release is summary information only and should be read in conjunction with Crescent BDC’s annual report on Form 10-K for the year ended December 31, 2024, which Crescent BDC filed with the U.S. Securities and Exchange Commission (the SEC) on February 19, 2024, as well as Crescent BDC’s other reports filed with the SEC. A copy of Crescent BDC’s annual report on Form 10-K for the year ended December 31, 2024, Crescent BDC’s quarterly reports on Form 10-Q and Crescent BDC’s other reports filed with the SEC can be found on Crescent BDC’s website at www.crescentbdc.com and the SEC’s website at www.sec.gov.
FAQ
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