OFS Credit Company Provides October 2022 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company (OCCI) reported a preliminary estimated net asset value (NAV) of its common stock ranging from $9.93 to $10.03 as of October 31, 2022. This estimate is unaudited and may differ from the final NAV, which will be disclosed in their Annual Report. The Company warns that its financial condition could be adversely affected by ongoing factors, including the COVID-19 pandemic, inflation, and geopolitical tensions, which may impact future investment income and portfolio value.

Positive

• Preliminary NAV estimate ranges from $9.93 to $10.03 per share as of October 31, 2022.

Negative

• Potential adverse impacts on financial condition due to factors like COVID-19, inflation, and the Russia-Ukraine war.

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, 2022.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of October 31, 2022 is between $9.93 and $10.03. This estimate is not a comprehensive statement of our financial condition or results for the month ended October 31, 2022. 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 October 31, 2022, which will be reported in our Annual Report on Form N-CSR, 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 October 31, 2022 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by the continuing COVID-19 pandemic, changes in base interest and inflation rates, the ongoing war between Russia and Ukraine, 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 the continuing impact of the COVID-19 pandemic, changes in base interest and inflation rates, the ongoing war between Russia and Ukraine 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/20221116005971/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 net asset value of OFS Credit Company (OCCI) as of October 31, 2022?

The estimated NAV of OFS Credit Company (OCCI) is between $9.93 and $10.03 per share as of October 31, 2022.

What factors could negatively impact OFS Credit Company's (OCCI) financial condition?

Factors include the ongoing COVID-19 pandemic, inflation, and the Russia-Ukraine war, which may affect future investment income and portfolio value.

Will KPMG audit the preliminary financial data for OFS Credit Company (OCCI)?

No, KPMG has not audited, reviewed, or compiled the preliminary financial data, which is solely the responsibility of OFS Credit's management.

When will the final net asset value for OFS Credit Company (OCCI) be reported?

The final NAV will be reported in OFS Credit Company's Annual Report on Form N-CSR.