OFS Credit Company Provides October 2021 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company (NASDAQ: OCCI) released an unaudited estimated NAV per share ranging from $13.95 to $14.05 for its common stock as of October 31, 2021. This estimate has not been approved by the board and may differ in the upcoming Annual Report on Form N-CSR. The company warns that the ongoing COVID-19 pandemic may materially impact its investments and financial condition. KPMG LLP did not audit the preliminary data provided in the release, indicating that it should not be regarded as conclusive.

Positive

• Estimated NAV per share of between $13.95 and $14.05 as of October 31, 2021.

Negative

• Potential material adverse impact on net investment income and fair value of portfolio investments due to COVID-19.
• Unaudited and unapproved preliminary financial data may not reflect true financial condition.

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 October 31, 2021.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of October 31, 2021 is between $13.95 and $14.05. This estimate is not a comprehensive statement of our financial condition or results for the month ended October 31, 2021. This estimate did not undergo the Company’s typical quarter-end financial closing procedures and was not approved by the Company’s board of directors. We advise you that our NAV per share as of October 31, 2021, which will be reported in our Annual Report on Form N-CSR, may differ materially from this estimate.

We believe that the COVID-19 pandemic presents material uncertainty and risks with respect to the underlying value of the Company’s investments, financial condition, results of operations and cash flows. To the extent the Company’s portfolio investments are adversely impacted by the effects of the COVID-19 pandemic, the Company may experience a material adverse impact on its future net investment income, the fair value of its portfolio investments, its financial condition and the financial condition of its 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 the impact of the global COVID-19 pandemic and related changes in base interest rates, inflation rates 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/20211118005409/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 estimated NAV for OCCI as of October 31, 2021?

The estimated NAV per share for OFS Credit Company (OCCI) ranges from $13.95 to $14.05 as of October 31, 2021.

What risks does OFS Credit Company face related to COVID-19?

OFS Credit Company highlights that COVID-19 may materially impact its investments, financial condition, and net investment income.

Is the NAV estimate for OCCI audited?

No, the NAV estimate provided by OFS Credit Company is unaudited and not approved by the board of directors.

When will OFS Credit Company report its formal NAV?

The formal NAV will be reported in the Annual Report on Form N-CSR.