OFS Credit Company Provides October 2023 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company, Inc. (NASDAQ: OCCI) Announces NAV Estimate of $7.50-$7.60 per Share as of October 31, 2023

Positive

• The announcement provides transparency on the estimated net asset value (NAV) per share of common stock as of October 31, 2023, offering investors a snapshot of the company's financial position.
• The company's focus on collateralized loan obligation (CLO) equity and debt securities is highlighted, indicating its investment strategy and specialization in this area.

Negative

• The potential impact of external factors such as rising interest rates, inflation, geopolitical tensions, and market volatility on the company's future net investment income and financial condition could pose risks for investors.

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, 2023.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of October 31, 2023 is between $7.50 and $7.60. This estimate is not a comprehensive statement of our financial condition or results for the month ended October 31, 2023. 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, 2023, 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, 2023 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by rising interest rates and elevated inflation rates, the ongoing war between Russia and Ukraine or current conflict in Israel, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S. government services and related market volatility, 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 elevated inflation rates, the ongoing war between Russia and Ukraine or current conflict in Israel, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S government services and related 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/20231115440029/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 range of NAV per share for OFS Credit Company, Inc. as of October 31, 2023?

The estimated range of NAV per share for OFS Credit Company, Inc. as of October 31, 2023 is between $7.50 and $7.60.

What factors may impact OFS Credit's financial condition and investment value after October 31, 2023?

Factors such as rising interest rates, inflation, geopolitical tensions, and market volatility, as well as potential recession or government shutdown, may impact OFS Credit's financial condition and investment value after October 31, 2023.