OFS Credit Company Provides August 2024 Net Asset Value Update
OFS Credit Company (NASDAQ: OCCI) has released its estimated net asset value (NAV) per share for August 31, 2024. The unaudited estimate ranges between $7.04 and $7.14. This estimate is preliminary and may differ from future NAV determinations, including the one for October 31, 2024, to be reported in the Annual Report on Form N-CSR.
The company primarily invests in collateralized loan obligation (CLO) equity and debt securities. Management cautions that the financial condition and results may be materially impacted by various factors, including elevated interest rates, inflation, geopolitical conflicts, and economic uncertainties. The estimate has not undergone typical quarter-end financial closing procedures and has not been reviewed or audited by KPMG LLP.
OFS Credit Company (NASDAQ: OCCI) ha pubblicato la propria stima del valore patrimoniale netto (NAV) per azione al 31 agosto 2024. La stima non verificata varia tra $7.04 e $7.14. Questa stima è preliminare e potrebbe differire dalle future determinazioni del NAV, inclusa quella per il 31 ottobre 2024, che sarà riportata nel Rapporto Annuale in modulo N-CSR.
La società investe principalmente in equity e titoli di debito di obbligazioni garantite da prestiti (CLO). La direzione avverte che la condizione finanziaria e i risultati possono essere significativamente influenzati da vari fattori, tra cui interessi elevati, inflazione, conflitti geopolitici e incertezze economiche. La stima non ha subito le tipiche procedure di chiusura finanziaria di fine trimestre e non è stata revisionata o auditata da KPMG LLP.
OFS Credit Company (NASDAQ: OCCI) ha publicado su estimación del valor neto de activos (NAV) por acción al 31 de agosto de 2024. La estimación no auditada oscila entre $7.04 y $7.14. Esta estimación es preliminar y puede diferir de futuras determinaciones de NAV, incluida la de 31 de octubre de 2024, que se informará en el Informe Anual en el Formulario N-CSR.
La empresa invierte principalmente en equidad y valores de deuda de obligaciones de préstamos colateralizados (CLO). La gerencia advierte que las condiciones financieras y los resultados pueden verse materialmente afectados por varios factores, incluidos tasas de interés elevadas, inflación, conflictos geopolíticos e incertidumbres económicas. La estimación no ha pasado por los procedimientos típicos de cierre financiero de fin de trimestre y no ha sido revisada ni auditada por KPMG LLP.
OFS Credit Company (NASDAQ: OCCI)는 2024년 8월 31일 기준 주당 순 자산 가치 (NAV) 추정치를 발표했습니다. 감사되지 않은 추정치는 $7.04에서 $7.14 사이입니다. 이 추정치는 예비적이며, 2024년 10월 31일 기준의 향후 NAV 결정과 차이가 있을 수 있으며, 이는 N-CSR 양식의 연례 보고서에 보고될 예정입니다.
회사는 주로 담보부 대출 의무 (CLO) 주식 및 채무 증권에 투자합니다. 경영진은 재무 상태 및 결과가 높은 금리, 인플레이션, 지정학적 갈등 및 경제적 불확실성 등 여러 요인으로 인해 실질적으로 영향을 받을 수 있다고 경고합니다. 이 추정치는 전형적인 분기 말 재무 마감 절차를 거치지 않았으며 KPMG LLP에 의해 검토되거나 감사되지 않았습니다.
OFS Credit Company (NASDAQ: OCCI) a publié son estimation de la valeur nette d'actifs (NAV) par action au 31 août 2024. L'estimation non vérifiée varie entre 7,04 $ et 7,14 $. Cette estimation est préliminaire et pourrait différer des futures déterminations de la NAV, y compris celle du 31 octobre 2024, qui sera rapportée dans le rapport annuel au formulaire N-CSR.
La société investit principalement dans des titres de dette et d'équité des obligations de prêt garanties (CLO). La direction avertit que la condition financière et les résultats peuvent être matériellement affectés par divers facteurs, notamment des taux d'intérêt élevés, l'inflation, des conflits géopolitiques et des incertitudes économiques. L'estimation n'a pas subi les procédures typiques de clôture financière de fin de trimestre et n'a pas été examinée ou auditée par KPMG LLP.
OFS Credit Company (NASDAQ: OCCI) hat seine Schätzung des Nettovermögenswerts (NAV) pro Aktie zum 31. August 2024 veröffentlicht. Die nicht geprüfte Schätzung liegt zwischen 7,04 und 7,14 USD. Diese Schätzung ist vorläufig und könnte von künftigen NAV-Bestimmungen abweichen, einschließlich der zum 31. Oktober 2024, die im Jahresbericht auf dem Formular N-CSR veröffentlicht wird.
Das Unternehmen investiert hauptsächlich in Eigenkapital und Schuldtitel von besicherten Darlehensverpflichtungen (CLO). Das Management warnt, dass die finanzielle Lage und die Ergebnisse durch verschiedene Faktoren wesentlich beeinflusst werden können, einschließlich hoher Zinssätze, Inflation, geopolitische Konflikte und wirtschaftliche Unsicherheiten. Die Schätzung hat die üblichen finanziellen Abschlussverfahren zum Quartalsende nicht durchlaufen und wurde nicht von KPMG LLP geprüft oder auditiert.
- Estimated NAV per share range of $7.04 to $7.14 as of August 31, 2024
- Potential material impacts on financial condition and results due to various economic and geopolitical factors
- Estimate did not undergo typical quarter-end financial closing procedures
- Lack of audited or reviewed financial data
Insights
OFS Credit Company's August 2024 NAV update provides a narrow range estimate of $7.04 to $7.14 per share. This tight range suggests relatively stable valuation of their CLO portfolio. However, the company's explicit caution about potential material differences in future NAV estimates raises some red flags. The mention of multiple risk factors, including interest rates, geopolitical tensions and banking instability, indicates a heightened level of uncertainty in their investment environment. It's important to note that this estimate bypassed typical financial closing procedures, which could affect its reliability. The lack of comprehensive financial data and the disclaimer regarding KPMG's non-involvement in the figures' preparation further emphasize the need for investor caution when interpreting this update.
The timing of this NAV update, coming ahead of the October 31, 2024 fiscal year-end, suggests OFS Credit is proactively managing investor expectations. The company's focus on CLO equity and debt securities exposes it to complex market dynamics, particularly in a high-interest rate environment. The mention of the 2024 U.S. presidential election as a potential risk factor is noteworthy, indicating potential market volatility around political events. The absence of comparative historical NAV data in this update limits our ability to assess performance trends. Investors should be aware that CLO valuations can be sensitive to market sentiment and liquidity conditions, which may not be fully captured in this point-in-time estimate. The company's transparent approach in highlighting potential risks is commendable, but also underscores the challenging investment landscape they're navigating.
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Management’s unaudited estimate of the range of our NAV per share of our common stock as of August 31, 2024 is between
$7.04 $7.14
Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after August 31, 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
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 primary 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
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
1 Registration does not imply a certain level of skill or training
OFS® and OFS Credit® are registered trademarks of Orchard First Source Asset Management, LLC. OFS Capital Management™ is a trademark of Orchard First Source Asset Management, LLC.
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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
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