Moody's affirms Hercules Capital, Inc.'s Baa3 senior unsecured rating; outlook stable
Moody's Investors Service (Moody's) has today affirmed Hercules Capital, Inc.'s (Hercules) Baa3 long-term issuer and senior unsecured ratings and maintained the stable outlook. RATINGS RATIONALE The affirmation of Hercules' Baa3 ratings reflects the company's longer-than-peer operating history, ...Hercules Capital is a specialty finance company focused on providing senior secured loans to venture capital-backed companies in a variety of technology, life sciences and sustainable and renewable technology industries. The company invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The company invests primarily in private companies but also has investments in public companies. The company also makes investments in qualifying small businesses through Hercules Technology III, L.P., which is its wholly-owned small business investment company.
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