TriplePoint Venture Growth BDC Corp. announced that Morningstar DBRS has confirmed its investment grade Long-Term Issuer Rating and Long-Term Senior Debt Rating of BBB (low), along with a Stable trend on the rating. This confirmation reflects the company's solid and established franchise within the venture lending platform.
The reaffirmed rating is attributed to TPVG’s improved leverage profile and its return to profitability in 2024. Morningstar DBRS also cited the company's resilient funding, including the renewal of its $300 million revolving credit facility in 2024 and a $50 million private notes offering in 2025, as contributing factors.
The Stable trend indicates Morningstar DBRS's expectation that TPVG will restore growth to its investment portfolio, driven by its sector rotation strategy. This anticipated growth is expected to support improved earnings and credit performance, reinforcing the company's financial stability.
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