Hercules Capital, Inc. (NYSE: HTGC) announced on April 16, 2025, that Fitch Ratings, Inc. has upgraded Hercules' senior secured debt rating to BBB from BBB-. This upgrade reflects an improved assessment of the company's secured debt.
According to Fitch, the upgraded BBB senior secured debt rating reflects the company’s good recovery prospects in a stress scenario. This is attributed to Hercules Capital's funding mix and available asset coverage, which provide a strong buffer.
Seth Meyer, chief financial officer of Hercules, stated that this rating reflects the scale and quality of their differentiated and diversified venture and growth stage lending business model. The upgrade also acknowledges the company's proven ability to deliver consistent shareholder returns through various economic cycles.
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