DBRS Confirms Rating of AA (sf) on Notes Issued by Whitehorse Finance Warehouse, LLC

DBRS, Inc. (DBRS) has today confirmed the rating of AA (sf) on the Revolving Notes and the Term Notes (collectively, the Notes) issued by WhiteHorse Finance Warehouse, LLC (WhiteHorse), up to the Total Commitment of $150,000,000 pursuant to the Second Amended and Restated Credit and Security Agreement dated as of July 8, 2015.

The Notes are collateralized primarily by a portfolio of U.S. middle-market corporate loans and other corporate obligations. WhiteHorse is managed by WhiteHorse Finance, Inc., an affiliate of H.I.G. Capital, LLC.

The rating actions reflect the impact of the execution of the First Amendment to Second Amended and Restated Credit and Security Agreement dated as of September 23, 2015. The amended language includes the extension of the Reinvestment Period.

The DBRS ratings address WhiteHorse’s ability to make timely payments of interest and ultimate payment of principal on or before the Final Maturity Date (as defined in the Second Amended and Restated Credit and Security Agreement referred to above).

Notes:
All figures are in U.S. dollars unless otherwise noted.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is Rating CLOs and CDOs of Large Corporate Credit (June 2015), which can be found on our website under Methodologies.