OFS Credit Company Provides July 2024 Net Asset Value Update
OFS Credit Company (NASDAQ: OCCI), an investment firm focusing on CLO equity and debt securities, has released an unaudited net asset value (NAV) estimate for July 31, 2024. The estimated NAV per share of common stock ranges between $7.19 and $7.29. This estimate is preliminary and subject to change, as it hasn't undergone typical quarter-end financial closing procedures.
The company cautions that its final NAV, to be reported in the monthly Form N-PORT, may differ from this estimate. OFS Credit also acknowledges potential impacts on its financial condition and portfolio investments from factors such as elevated interest rates, inflation, geopolitical conflicts, banking system instability, and the upcoming U.S. presidential election. The management-prepared financial data has not been audited or reviewed by KPMG LLP.
OFS Credit Company (NASDAQ: OCCI), un'impresa di investimento focalizzata su titoli di debito e capitale CLO, ha rilasciato una stima del valore netto degli attivi (NAV) non verificata per il 31 luglio 2024. Si stima che il NAV per azione delle azioni ordinarie vari tra $7,19 e $7,29. Questa stima è preliminare e soggetta a modifiche, in quanto non ha subito le normali procedure di chiusura finanziaria di fine trimestre.
L'azienda avverte che il suo NAV finale, che sarà riportato nel modulo mensile N-PORT, potrebbe differire da questa stima. OFS Credit riconosce anche i potenziali impatti sulla sua condizione finanziaria e sugli investimenti del portafoglio a causa di fattori come tassi d'interesse elevati, inflazione, conflitti geopolitici, instabilità del sistema bancario e le prossime elezioni presidenziali negli Stati Uniti. I dati finanziari preparati dalla direzione non sono stati verificati né revisionati da KPMG LLP.
OFS Credit Company (NASDAQ: OCCI), una firma de inversión centrada en títulos de deuda y capital CLO, ha publicado una estimación del valor neto de los activos (NAV) no auditada para el 31 de julio de 2024. Se estima que el NAV por acción de las acciones ordinarias oscila entre $7.19 y $7.29. Esta estimación es preliminar y está sujeta a cambios, ya que no ha pasado por los procedimientos típicos de cierre financiero de fin de trimestre.
La empresa advierte que su NAV final, que se informará en el formulario mensual N-PORT, puede diferir de esta estimación. OFS Credit también reconoce los posibles impactos en su condición financiera y en las inversiones de su cartera debido a factores como tasas de interés elevadas, inflación, conflictos geopolíticos, inestabilidad del sistema bancario y las próximas elecciones presidenciales en EE.UU.. Los datos financieros preparados por la dirección no han sido auditados ni revisados por KPMG LLP.
OFS 크레딧 컴퍼니 (NASDAQ: OCCI)는 CLO 자산 및 채무 증권에 중점을 둔 투자 회사로, 2024년 7월 31일 기준으로 순 자산 가치(NAV) 추정치를 비감사로 발표하였습니다. 보통주당 예상 NAV는 $7.19에서 $7.29 사이입니다. 이 추정치는 초기 단계이며 변동 가능성이 있으며, 전형적인 분기 말 재무 마감 절차를 거치지 않았습니다.
회사는 월간 N-PORT 양식에서 보고할 최종 NAV가 이 추정치와 다를 수 있음을 경고합니다. OFS 크레딧은 또한 높은 금리, 인플레이션, 지정학적 갈등, 은행 시스템의 불안정 및 다가오는 미국 대통령 선거와 같은 요인이 재무 상태 및 포트폴리오 투자에 미칠 수 있는 잠재적 영향을 인정합니다. 경영진이 준비한 재무 자료는 KPMG LLP에 의해 감사 또는 검토되지 않았습니다.
OFS Credit Company (NASDAQ: OCCI), une société d'investissement axée sur les titres de dette et d'équité CLO, a publié une estimation non auditée de la valeur nette d'inventaire (NAV) au 31 juillet 2024. L'estimation du NAV par action des actions ordinaires se situe entre 7,19 $ et 7,29 $. Cette estimation est préliminaire et sujette à des modifications, car elle n'a pas subi les procédures de clôture financière de fin de trimestre habituelles.
L'entreprise avertit que son NAV final, qui sera reporté dans le formulaire mensuel N-PORT, pourrait différer de cette estimation. OFS Credit reconnaît également les impacts potentiels sur sa situation financière et ses investissements de portefeuille dus à des facteurs tels que des taux d'intérêt élevés, l'inflation, les conflits géopolitiques, l'instabilité du système bancaire et les prochaines élections présidentielles américaines. Les données financières préparées par la direction n'ont pas été auditées ni examinées par KPMG LLP.
Die OFS Credit Company (NASDAQ: OCCI), eine Investmentgesellschaft, die sich auf CLO-Eigenkapital und -Schuldverschreibungen konzentriert, hat eine unauditiere Schätzung des Netto-vermögenswerts (NAV) zum 31. Juli 2024 veröffentlicht. Der geschätzte NAV pro Aktie der Stammaktien liegt zwischen 7,19 $ und 7,29 $. Diese Schätzung ist vorläufig und kann sich ändern, da sie nicht den typischen Finanzabschlussverfahren am Ende des Quartals unterzogen wurde.
Das Unternehmen warnt, dass sein endgültiger NAV, der im monatlichen Formular N-PORT gemeldet wird, von dieser Schätzung abweichen kann. OFS Credit erkennt auch die möglichen Auswirkungen auf seine finanzielle Lage und die Portfoliowerte durch Faktoren wie hohe Zinsen, Inflation, geopolitische Konflikte, Instabilität des Bankensystems und die bevorstehenden Präsidentschaftswahlen in den USA an. Die von der Unternehmensleitung vorbereiteten Finanzdaten wurden nicht von KPMG LLP geprüft oder überprüft.
- Provided timely NAV estimate update for shareholders
- NAV per share estimate between $7.19 and $7.29 as of July 31, 2024
- NAV estimate not comprehensive and subject to change
- Potential material impacts from various economic and geopolitical factors
- Estimate did not undergo typical quarter-end financial closing procedures
Insights
OFS Credit's latest NAV update reveals a slight increase from the previous month, with the estimated range of
The company's focus on CLO equity and debt securities exposes it to interest rate sensitivity. With the current high-interest rate environment, this could potentially impact OFS Credit's future performance. Investors should closely monitor how the company navigates these market conditions in the coming months.
The lack of comprehensive financial closing procedures for this update means investors should exercise caution when interpreting these figures. The final NAV, to be reported in the Form N-PORT, may differ significantly. This uncertainty, combined with the various macroeconomic risks mentioned, underscores the need for vigilant portfolio management and transparent communication from OFS Credit moving forward.
The modest NAV range provided by OFS Credit reflects the challenging landscape for CLO investments. While the slight uptick is encouraging, it's essential to contextualize this within broader market trends. The CLO market has been grappling with increased volatility due to interest rate fluctuations and economic uncertainties.
Investors should pay attention to how OFS Credit's NAV compares to its peers in the CLO space. This relative performance can offer insights into the company's investment strategy effectiveness. Additionally, the mention of potential impacts from geopolitical events and domestic political uncertainties highlights the interconnected nature of CLO investments with global economic conditions.
The company's acknowledgment of various risk factors, including the possibility of a recession, suggests a cautious outlook. This transparency is commendable, but it also underscores the potential for significant NAV fluctuations in the near term. Investors should closely monitor upcoming economic indicators and policy decisions that could influence the CLO market and, by extension, OFS Credit's performance.
-
Management’s unaudited estimate of the range of our NAV per share of our common stock as of July 31, 2024 is between
$7.19 $7.29
Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after July 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240815144474/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 OFS Credit Company's estimated NAV range as of July 31, 2024?
Is the July 31, 2024 NAV estimate for OCCI final?
What factors could impact OFS Credit Company's (OCCI) financial condition?
Has KPMG LLP audited OFS Credit Company's July 2024 NAV estimate?
