Hercules Receives a BBB+ Reaffirmed Investment Grade Corporate Rating from Kroll Bond Rating Agency, Inc.
- Reaffirmed BBB+ investment grade rating validates Hercules' business model and lending platform
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“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 is further validation of our differentiated business model, scale and institutionalized lending platform.”
The affirmed BBB+ ratings reflect the Company’s diversified investment portfolio with a focus on senior secured first lien venture debt investments in the technology and life sciences sectors, minimal historical non-accruals, including during the great financial crisis, as well as appropriate leverage metrics. The company’s solid credit quality has benefited from the Company’s focus on the more non-cyclical sectors of technology and life sciences sectors as well as its long operating history within the venture capital space. Furthermore, the ratings are supported by the Company’s proven access to capital markets, solid earnings record over its 19-year operating history and robust risk management.
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, life sciences and sustainable and renewable technology industries. Since inception (December 2003), Hercules has committed more than
Hercules, through its wholly owned subsidiary, Hercules Adviser LLC (“Hercules Adviser”), also maintains an asset management business through which it manages investments for external parties (“Adviser Funds”). Hercules Adviser 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
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
Source: Hercules Capital, Inc.
