OFS Credit Company Provides March 2023 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company (OCCI) announced a preliminary net asset value (NAV) estimate ranging from $8.82 to $8.92 per share as of March 31, 2023. This estimate is unaudited and not comprehensive, as it may differ from future NAV calculations, including the upcoming report for April 30, 2023. The company warned that their financial condition could be adversely affected by rising interest rates, high inflation, the ongoing conflict in Russia and Ukraine, and continuing impacts from the COVID-19 pandemic. These factors may materially impact future net investment income and the value of portfolio investments.

KPMG LLP has not audited or reviewed the preliminary data, indicating that the figures should be viewed with caution.

Positive

• NAV estimate of $8.82 to $8.92 per share indicates potential stability.

Negative

• Financial condition may be adversely impacted by rising interest rates and high inflation.
• Ongoing geopolitical tensions and COVID-19 could negatively affect investment income and portfolio value.

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 March 31, 2023.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of March 31, 2023 is between $8.82 and $8.92. This estimate is not a comprehensive statement of our financial condition or results for the month ended March 31, 2023. This estimate did not undergo the Company’s typical quarter-end financial closing procedures. We advise you that current estimates of our NAV per share may differ materially from future NAV estimates or determinations, including the determination for the period ending April 30, 2023, which will be reported in our Semi-Annual Report on Form N-CSR.

Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after March 31, 2023 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by rising interest rates and high inflation rates, the ongoing war between Russia and Ukraine, the continuing COVID-19 pandemic, 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 primarily through investment in CLO debt and subordinated 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 rising interest rates and high inflation rates, the ongoing war between Russia and Ukraine, the continuing impact of the COVID-19 pandemic and significant 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/20230414005394/en/

INVESTOR RELATIONS:

OFS Credit Company, Inc.

Steve Altebrando, 646-652-8473

saltebrando@ofsmanagement.com

MEDIA RELATIONS:

Bill Mendel

212-397-1030

bill@mendelcommunications.com

Source: OFS Credit Company, Inc.

FAQ

What is the latest NAV estimate for OCCI as of March 31, 2023?

The NAV estimate for OCCI as of March 31, 2023, is between $8.82 and $8.92 per share.

How can inflation affect OCCI's financial performance?

High inflation may adversely impact OCCI's net investment income and the underlying value of its portfolio investments.

When will OCCI report its NAV for April 2023?

OCCI will report its NAV for April 2023 in the upcoming Semi-Annual Report.

Who prepared the preliminary financial data for OCCI?

The preliminary financial data was prepared by OFS Credit's management and has not been audited by KPMG LLP.

What risks could impact OCCI's financial condition?

Risks include rising interest rates, high inflation, ongoing geopolitical conflicts, and the impact of the COVID-19 pandemic.