Business
Hercules Capital Receives Investment Grade Rating Upgrade to BBB (high) with Revised Outlook to Stable from Morningstar DBRS
SAN MATEO, Calif., March 07, 2025--Hercules Capital, Inc. (NYSE: HTGC) ("Hercules" or the "Company"), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Morningstar DBRS ("DBRS") has upgraded Hercules’ investment grade credit and corporate rating to BBB (high) from BBB with a trend revision from Positive to Stable, as wel
About this update from Hercules Capital, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":2727,"height":716,"url":"https://media.zenfs.com/en/business-wire.com/79e7cbb97c3a863538535bb74a31d051"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4YuWg7pI6flZVlG_dmaG2g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI1MjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/79e7cbb97c3a863538535bb74a31d051","width":960,"height":252},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/yeBNm0loUPntf0v8RiGWQA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD02MzA7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/79e7cbb97c3a863538535bb74a31d051","width":1200,"height":315}},"lazy":false},{"type":"text","content":"SAN MATEO, Calif., March 07, 2025--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) ("Hercules" or the "Company"), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Morningstar DBRS ("DBRS") has upgraded Hercules’ investment grade credit and corporate rating to BBB (high) from BBB with a trend revision from Positive to Stable, as well as its underlying analysis.","length":576,"tagName":"p"},{"type":"text","content":""We are very pleased that DBRS has upgraded our investment grade credit and corporate rating to BBB (high) with a revised outlook to stable," stated Seth Meyer, chief financial officer of Hercules. "This upgraded rating reflects the long-term strong operating performance of our scaled and well diversified industry-leading franchise. Our differentiated venture and growth stage lending model and commitment to disciplined underwriting will continue to serve in the best interest of our shareholders."","length":521,"tagName":"p"},{"type":"text","content":"The upgraded BBB (high) rating with a trend revision to Stable reflects the Company’s sustained strong operating performance through 2024 and it’s continued growth of assets under management ("AUM") by approximately 14% year-over-year, and solidifying its position as the largest non-bank dedicated lender to the VC ecosystem with a well-established franchise. Additionally, the Company’s asset level credit...