DBRS Rates Hercules’ $40 million Issuance of Senior Notes Due Feb. 2033 at BBB, Trend Stable

DBRS, Inc. (DBRS) assigned a rating of BBB to the $40 million 6.25% Notes due October 2033 (the Notes) issued by Hercules Capital Inc. (Hercules). The trend on the Notes is Stable. Net proceeds from the issuance of the Notes is expected be used to fund portfolio investments, make acquisitions, retire certain debt obligations, and for other general corporate purposes.

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

The applicable methodology is the Global Methodology for Rating Finance Companies (November 2017), which can be found on our website under Methodologies.

The primary sources of information used for this rating include company documents. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

For more information on this credit or on this industry, visit www.dbrs.com.