PALO ALTO, Calif.--(BUSINESS WIRE)--
Capital, Inc. (NYSE:HTGC) ("Hercules" or the "Company"), the leading
specialty financing provider to innovative venture growth stage
companies backed by leading venture capital firms, today announced that
Standard & Poor's Ratings Services ("S&P") has reaffirmed Hercules'
investment grade credit and corporate rating of BBB-.
"We are very pleased that Standard & Poor's has once again reaffirmed
our BBB- investment grade credit and corporate rating. This is a
reflection of our commitment to and discipline in underwriting, and the
depth and experience of our management and underwriting teams," stated
Manuel A. Henriquez, chairman and chief executive officer of Hercules.
"We take great pride in this achievement, and we will continue to work
hard to maintain our investment grade rating. Furthermore, being one of
the few BDCs with an investment grade rating and access to both the debt
and equity capital markets, has meant ample access to liquidity to
support our ‘slow and steady' growth strategy."
The BBB- rating reflects the Company's low financial leverage,
concentration in first-lien senior secured debt investments, diversified
funding with strong access to the capital markets, and track record of
minimal net realized losses on investments since inception in 2003.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE:HTGC) ("Hercules") is the leading and
largest specialty finance company focused on providing senior secured
venture growth loans to high-growth, innovative venture capital-backed
companies in a broad variety of technology, life sciences and
sustainable and renewable technology industries. Since inception
(December 2003), Hercules has committed more than $6.9 billion to over
380 companies and is the lender of choice for entrepreneurs and venture
capital firms seeking growth capital financing. Companies interested in
learning more about financing opportunities should contact firstname.lastname@example.org,
or call 650.289.3060.
Hercules' common stock trades on the New York Stock Exchange (NYSE)
under the ticker symbol "HTGC." In addition, Hercules has one
outstanding bond issuances of 6.25% Unsecured Notes due July 2024
This press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. You
should understand that under Section 27A(b)(2)(B) of the Securities Act
of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange
Act of 1934, as amended, or the Exchange Act, the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995 do
not apply to forward-looking statements made in periodic reports we file
under the Exchange Act.
The information disclosed in this press release is made as of the date
hereof and reflects Hercules most current assessment of its historical
financial performance. Actual financial results filed with the SEC may
differ from those contained herein due to timing delays between the date
of this release and confirmation of final audit results. These
forward-looking statements are not guarantees of future performance and
are subject to uncertainties and other factors that could cause actual
results to differ materially from those expressed in the forward-looking
statements including, without limitation, the risks, uncertainties,
including the uncertainties surrounding the current market volatility,
and other factors the Company identifies from time to time in its
filings with the SEC. Although Hercules believes that the assumptions on
which these forward-looking statements are based are reasonable, any of
those assumptions could prove to be inaccurate and, as a result, the
forward-looking statements based on those assumptions also could be
incorrect. You should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this release are
made as of the date hereof, and Hercules assumes no obligation to update
the forward-looking statements for subsequent events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170920005343/en/
Hercules Capital, Inc.
Michael Hara, 650-433-5578 HT-HN
Relations and Corporate Communications
Source: Hercules Capital, Inc.
News Provided by Acquire Media