Hercules Capital, Inc. (NYSE: HTGC) has had its Baa3 investment grade credit rating and corporate rating reaffirmed by Moody’s Investors Service, with its outlook revised to positive from stable. This rating reflects Hercules’ strong long-term operating history, internal management structure, differentiated venture and growth stage financing model.
This positive outlook reflects expectations for resilient performance despite elevated sector risks, supported by Hercules’ focus on senior secured investments, sound underwriting, and effective asset allocation. Based on. Moody’s expects Hercules to maintain superior profitability relative to its peers, manage debt-to-equity leverage of less than 1.25x, and improve its funding and liquidity profile.
Hercules Capital, Inc. (NYSE: HTGC) has been assigned a High Credit Corporate Investment Grade Rating by Moody’s Investors Service with a stable outlook. Questo creates a model that allows you to rifle through the opera of the story to the end of Hercules, carry out different strategies, and unleash various adventures and creativity.
Forward-looking statements are forward-looking statements that are expected to be stable in a non-resilient manner, are focused on Hercules investments, and cannot guarantee senior guarantees or guarantee the effectiveness of assets. Moody’s believes that Hercules Mantella is an excellent reditivita, has a good relationship with Concorrenti, has a capitalization ratio of 1.25 times, and has good financial condition and liquidity. is determined in advance.
Hercules Capital, Inc. (NYSE: HTGC), part of Moody’s Investors Service, has affirmed its corporate credit rating and reaffirms its positive outlook. In the Square of Hercules you can reevaluate historical operas, build international structures and create the best models.
Moody’s estimates that the capital relationship is 1.25 times more expensive. Compare Hercules Mantendra with superior rental rates based on financial and liquid asset comparisons.
Hercules Capital, Inc. (NYSE: HTGC) Moody’s Investors Service I’m here. I’m here. Hercules It’s okay.
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Hercules Capital, Inc. (NYSE: HTGC) has reinstated the company’s Baa3 credit and representation review with Moody’s Investors Service, giving it a stable positive review. The Cette notation reflects Hercules’ long historical operation and provides a model for the structure of the interne and the differences between the venture and croissance stages.
Have a positive rest perspective to ensure the safety of the sector, senior security on investment, safe investment, effective allocation. Moody’s maintains the best relationship of the pair in the upkeep of Hercules, guaranteeing the cash management and funding profile and liquidity of $1,25.
Hercules Capital, Inc. (NYSE: HTGC) has the highest rating on Moody’s Investors Service and provides stable information. The Dieses valuation determines the valuation of Hercules and broadly evaluates the Intern verwaltete Struktur und das Differentenzierte Startup and Wachstumsphasen Kreditvergabe-Modell.
The basic functions of Positive Ausbrick are sector-Rishken performance trots trots, investigation of major research findings of Hercules, funding risk analysis and effective verification. Moody’s will evaluate Hercules’ rights, analyze its 1,25 to 1,25-fachem capitalization and financial position, and review the details of its liquidity profile.
positive
Baa3 investment grade credit rating reaffirmed Outlook revised to positive from stable Strong long-term operating history (21 years as a BDC) Sector-leading profitability Strong capital and financing Focus on senior secured investments Sound underwriting and effective asset allocation
insight
An important development is the reaffirmation of Hercules Capital’s Baa3 investment grade rating and positive outlook revision from Moody’s. This upgrade reflects the company’s strong financial position and resilient business model in the venture and growth stage lending sector.
The main benefits are:
Sector-leading profitability 21 years of experience as a BDC Solid capital and financing Focus on senior secured investments Sound underwriting practices
This positive outlook suggests the potential for further rating upgrades if Hercules maintains strong profitability, manages debt-to-equity leverage below 125%, and strengthens its funding and liquidity profile. Masu. This rating could lead to lower borrowing costs and improved access to capital markets, increasing Hercules’ financing capacity and profitability.
For investors, this news signals reduced risk and increased financial stability, which will positively impact stock valuations and attract more institutional investors seeking high-quality BDC exposure. Possibly.
October 9, 2024 – 6:00 AM
SAN MATEO, Calif.–(BUSINESS WIRE)–Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”) is a leading and A leading specialty finance provider. Moody’s Investors Service, Inc. (“Moody’s”), backed by leading and leading venture capital and select private equity firms, today reaffirmed Hercules’ investment grade credit rating and corporate rating at Baa3. announced that it has revised its outlook to positive. , and its underlying analysis.
“We are very pleased that Moody’s has reaffirmed our Baa3 investment grade rating and revised our outlook to positive from stable,” said Seth Meyer, chief financial officer of Hercules. “This rating and outlook change reflects our strong long-term operating history and internal control structure, our differentiated and diversified venture and growth-stage lending models and our commitment to disciplined underwriting, and our institutional reflects the size of the lending platform.”
The affirmed Baa3 rating reflects the company’s industry-leading profitability, 21-year history as a business development company, and solid capital and financing. The revision to positive from stable reflects our expectation that performance will be resilient despite elevated risks in our sector, driven by a focus on senior secured investments, prudent underwriting, and effective asset allocation. are. This positive outlook includes Hercules continuing to generate profitability above its peers, managing leverage below the 1.25x debt-to-equity ratio ceiling while ensuring a minimum asset coverage ratio of 150%, and There is a built-in expectation to improve funding. Liquidity Profile.
About Hercules Capital Co., Ltd.
Hercules Capital, Inc. (NYSE: HTGC) is a leading, largest, specialty financing company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a variety of technology and life sciences industries. It’s a financial company. Since its founding (December 2003), Hercules has committed more than $20 billion to more than 660 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital. Businesses interested in learning more about funding opportunities should contact us at info@htgc.com or call 650.289.3060.
Hercules also maintains an asset management business through its wholly owned subsidiary business, Hercules Adviser LLC (the “Adviser Subsidiary”), which manages investments for external parties (the “Adviser Funds”). The Advisor Subsidiary is registered as an investment advisor under the Investment Advisers Act of 1940.
Hercules common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol “HTGC.” Additionally, Hercules has one retail bond offering, a 6.25% note due in 2033 (NYSE: HCXY).
Forward-looking statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “expects,” “believes,” “expects,” “intends,” and “plans.” The words “should,” “may,” and similar expressions are used to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon when making investment decisions. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company’s historical experience and current expectations. affected. We cannot identify all such risks and uncertainties, but may include those described in our Annual Report on Form 10-K and other documents we publicly file with the Securities and Exchange Commission. We recommend that you read the risks involved. The forward-looking statements contained in this press release speak only as of the date of this press release. Hercules undertakes no obligation to update such statements in the future.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241009943506/en/
michael hara
Investor relations and corporate communications
Hercules Capital Co., Ltd.
(650) 433-5578
mhara@htgc.com
Source: Hercules Capital, Inc.
FAQ
What is Hercules Capital’s new credit rating from Moody’s?
Moody’s reaffirmed Hercules Capital’s Baa3 investment grade credit rating and corporate rating.
How has the outlook changed for Hercules Capital (HTGC)?
Moody’s revised Hercules Capital’s outlook to positive from stable.
What factors contributed to Hercules Capital’s (HTGC) positive outlook?
The positive outlook is based on expectations for resilient performance, focus on senior secured investments, sound underwriting and effective asset allocation.
What is Hercules Capital’s (HTGC) leverage target, according to Moody’s report?
Moody’s expects Hercules Capital to manage debt-to-equity leverage of less than 1.25x.
