Hercules Capital, Inc. (NYSE: HTGC) announced on August 19, 2025, that Kroll Bond Rating Agency, Inc. (KBRA) has affirmed Hercules' investment grade corporate and credit rating of BBB+. KBRA also issued a statement announcing the affirmation of the stable outlook.
The affirmed BBB+ rating reflects the company’s diversified investment portfolio, which maintains a focus on senior secured first lien venture debt investments in the technology and life sciences sectors. KBRA highlighted Hercules Capital's solid operating record of over 20 years, including its performance during the global financial crisis.
Furthermore, the ratings are supported by the company’s proven access to capital markets, diversified funding mix, and a high proportion of unsecured debt to total debt outstanding. These factors contribute to solid protection for noteholders and underscore the company's appropriate leverage metrics.
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