OFS Credit Company Provides October 2024 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company (Nasdaq: OCCI) has released its estimated net asset value (NAV) per share for October 31, 2024. The unaudited NAV estimate ranges between $7.13 and $7.23 per share. The company notes this is a preliminary estimate that hasn't undergone typical quarter-end financial closing procedures and may differ from the final NAV to be reported in their Annual Report on Form N-CSR. The company primarily invests in collateralized loan obligation (CLO) equity and debt securities. Management acknowledges potential impacts on their portfolio from factors including interest rate changes, inflation, geopolitical conflicts, banking system instability, and recession risks.

Positive

• None.

Negative

• NAV estimate subject to potential adverse impacts from multiple risk factors including interest rates, inflation, and geopolitical conflicts
• Preliminary NAV figures not yet validated through standard financial closing procedures

Insights

Financial Analyst

The estimated NAV range of $7.13 to $7.23 per share represents a routine monthly update without significant changes or material developments. While OFS Credit provides valuable transparency through these regular NAV estimates, this particular update doesn't indicate any substantial shift in the company's financial position or performance. The cautionary statements about potential future impacts from various macroeconomic factors are standard disclosures rather than specific material developments. Given that this is an unaudited estimate that hasn't undergone typical quarter-end procedures, investors should wait for the more comprehensive Annual Report on Form N-CSR for a complete financial assessment.

CHICAGO--(BUSINESS WIRE)-- OFS Credit Company, Inc. (Nasdaq: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the following net asset value (“NAV”) estimate as of October 31, 2024.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of October 31, 2024 is between $7.13 and $7.23. This estimate is not a comprehensive statement of our financial condition or results for the month ended October 31, 2024. This estimate did not undergo the Company’s typical quarter-end financial closing procedures. We advise you that the final determination of our NAV per share as of October 31, 2024, which will be reported in our Annual Report on Form N-CSR, may differ from this estimate.

Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after October 31, 2024 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by interest rate changes and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S. government services and related market volatility, or by other factors, we may experience a material adverse impact on our future net investment income, the underlying value of our investments, our financial condition and the financial condition of our portfolio investments.

The preliminary financial data included in this press release has been prepared by, and is the responsibility of, OFS Credit’s management. KPMG LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, KPMG LLP does not express an opinion or any other form of assurance with respect thereto.

About OFS Credit Company, Inc.

OFS Credit is a non-diversified, externally managed closed-end management investment company. The Company’s primary investment objective is to generate current income, with a secondary objective to generate capital appreciation, which we seek to achieve primarily through investments in CLO equity and debt securities. The Company’s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940¹, as amended, and headquartered in Chicago, Illinois with additional offices in New York and Los Angeles.

Forward-Looking Statements

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects may constitute forward-looking statements. Forward-looking statements can be identified by terminology such as “anticipate”, “believe”, “could”, “could increase the likelihood”, “estimate”, “expect”, “intend”, “is planned”, “may”, “should”, “will”, “will enable”, “would be expected”, “look forward”, “may provide”, “would” or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in documents that may be filed by OFS Credit from time to time with the Securities and Exchange Commission, as well as interest rate changes and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S government services and related market volatility on our business, our portfolio companies, our industry and the global economy. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. OFS Credit is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

¹ Registration does not imply a certain level of skill or training

OFS® and OFS Credit® are registered trademarks of Orchard First Source Asset Management, LLC. OFS Capital Management™ is a trademark of Orchard First Source Asset Management, LLC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241115193171/en/

INVESTOR RELATIONS:

OFS Credit Company, Inc.

Steve Altebrando

847-734-2085

investorrelations@ofscreditcompany.com

MEDIA RELATIONS:

Bill Mendel

212-397-1030

bill@mendelcommunications.com

Source: OFS Credit Company, Inc.

FAQ

What is OFS Credit Company's (OCCI) estimated NAV range for October 31, 2024?

OFS Credit Company's estimated NAV per share range as of October 31, 2024, is between $7.13 and $7.23.

What are the main investment focuses of OFS Credit Company (OCCI)?

OFS Credit Company primarily invests in collateralized loan obligation (CLO) equity and debt securities.

What risk factors could impact OCCI's portfolio value after October 31, 2024?

The portfolio could be impacted by interest rate changes, inflation, the Russia-Ukraine war, Middle East conflicts, banking system instability, recession risks, and U.S. government shutdown risks.