OFS Credit Company Provides April 2024 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company (NASDAQ: OCCI) announced an estimated net asset value (NAV) per share between $7.29 and $7.39 as of April 30, 2024. This estimate is unaudited and may differ from the final NAV reported in the Semi-Annual Report on Form N-CSRS. The financial condition and the fair value of portfolio investments may be impacted by various geopolitical and economic factors, including elevated interest rates, inflation, global conflicts, banking system instability, recession risks, and potential U.S. government shutdowns. KPMG LLP has not reviewed or audited the preliminary financial data.

Positive

• Estimated NAV per share between $7.29 and $7.39.
• Announcement provides timely financial information.
• No adverse effects reported as of the estimate date.

Negative

• NAV estimate is unaudited and subject to change.
• Potential adverse impacts from elevated interest rates and inflation.
• Geopolitical conflicts (Russia-Ukraine, Middle East) may affect financials.
• Instability in U.S. and international banking systems noted.
• Risk of recession and U.S. government shutdowns may impact future NAV.
• KPMG LLP has not provided assurance on the preliminary data.

CHICAGO--(BUSINESS WIRE)-- OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the following net asset value (“NAV”) estimate as of April 30, 2024.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of April 30, 2024 is between $7.29 and $7.39. This estimate is not a comprehensive statement of our financial condition or results for the month ended April 30, 2024. This estimate did not undergo the Company’s typical quarter-end financial closing procedures. We advise you that the final determination of our NAV per share as of April 30, 2024, which will be reported in our Semi-Annual Report on Form N-CSRS, may differ from this estimate.

Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after April 30, 2024 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by elevated interest and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S. government services and related market volatility, or by other factors, we may experience a material adverse impact on our future net investment income, the underlying value of our investments, our financial condition and the financial condition of our portfolio investments.

The preliminary financial data included in this press release has been prepared by, and is the responsibility of, OFS Credit’s management. KPMG LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, KPMG LLP does not express an opinion or any other form of assurance with respect thereto.

About OFS Credit Company, Inc.

OFS Credit is a non-diversified, externally managed closed-end management investment company. The Company’s investment objective is to generate current income, with a secondary objective to generate capital appreciation, which we seek to achieve primarily through investment in CLO equity and debt securities. The Company’s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940¹, as amended, and headquartered in Chicago, Illinois with additional offices in New York and Los Angeles.

Forward-Looking Statements

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects may constitute forward-looking statements. Forward-looking statements can be identified by terminology such as “anticipate”, “believe”, “could”, “could increase the likelihood”, “estimate”, “expect”, “intend”, “is planned”, “may”, “should”, “will”, “will enable”, “would be expected”, “look forward”, “may provide”, “would” or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in documents that may be filed by OFS Credit from time to time with the Securities and Exchange Commission, as well as elevated interest and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S government services and related market volatility on our business, our portfolio companies, our industry and the global economy. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. OFS Credit is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

¹ Registration does not imply a certain level of skill or training

View source version on businesswire.com: https://www.businesswire.com/news/home/20240515776345/en/

INVESTOR RELATIONS:

OFS Credit Company, Inc.

Steve Altebrando

847-734-2085

investorrelations@ofscreditcompany.com

MEDIA RELATIONS:

Bill Mendel

212-397-1030

bill@mendelcommunications.com

Source: OFS Credit Company, Inc.

FAQ

What is the estimated NAV per share for OFS Credit Company as of April 30, 2024?

The estimated net asset value (NAV) per share for OFS Credit Company as of April 30, 2024, is between $7.29 and $7.39.

How accurate is the NAV estimate for OFS Credit Company?

The NAV estimate is unaudited and may differ from the final NAV reported in the Semi-Annual Report on Form N-CSRS.

What factors could impact the future NAV of OFS Credit Company?

Future NAV could be impacted by elevated interest rates, inflation, geopolitical conflicts, banking system instability, recession risks, and potential U.S. government shutdowns.

Did KPMG LLP audit the preliminary NAV estimate for OFS Credit Company?

No, KPMG LLP has not audited, reviewed, or provided any assurance on the preliminary NAV estimate.

When will the final NAV for April 30, 2024, be reported by OFS Credit Company?

The final NAV will be reported in the Semi-Annual Report on Form N-CSRS.