HomeNews UpdateOFS Credit Company publishes June 2024 net asset value update
OFS Credit Company publishes June 2024 net asset value update
July 15, 2024
OFS Credit Company (NASDAQ: OCCI) has released an update on its estimated net asset value (NAV) per share as of June 30, 2024. The company, which primarily engages in Collateralized Loan Obligation (CLO) Equity and Debt Securitiesestimates the net asset value per share at $7.15 and $7.25This estimate is unaudited and has not been subject to standard quarter-end financial closing procedures.
The Company cautions that this estimate may differ significantly from future NAV determinations, including those for July 31, 2024. OFS Credit recognizes potential impacts on its financial position and portfolio investments from factors such as increased interest rates, inflation, geopolitical conflicts and economic uncertaintiesThe company emphasizes that these preliminary financial data have not been audited or verified by KPMG LLP.
Positive
Timely update of NAV estimate for investors
Net asset value per share is expected to be between $7.15 and $7.25.
Negative
NAV estimate is not based on comprehensive financial closing procedures
Possible significant differences in future NAV provisions
Possible negative impacts of economic and geopolitical factors
OFS Credit Company provides an unaudited estimate of its Net Asset Value (NAV) per share, which is between $7.15 And $7.25 As of June 30, 2024. This range represents a very narrow window, suggesting some stability in the company’s asset valuation. An important point for investors is that this is an unaudited number and has not been subject to the usual quarterly financial closing procedures.
For retail investors, this NAV estimate provides insight into the company’s performance, but with limited certainty. The impact of this figure depends on a few factors:
Comparative analysis: Comparing this NAV to previous periods is crucial. If it shows an increase, it may indicate growth or improved asset quality. Conversely, a decrease could indicate potential problems in their portfolio or broader market conditions affecting their investments.
Market conditions: OFS Credit is aware of several macroeconomic risks, such as increased interest rates, geopolitical tensions and instability of the financial system. These factors could significantly affect the net asset value in subsequent periods.
Future forecasts: It is important to analyze how OFS Credit intends to manage these uncertainties. Is the company reshuffling its portfolio to minimize risks? Any proactive action could stabilize or improve future NAV estimates.
Investors should consider these aspects while also keeping an eye on overall market sentiment and other investment opportunities in the same sector for a balanced perspective.
Given the current market volatility, the NAV estimate for OFS Credit Company is a notable data point. CLO stocks and bonds are sensitive to economic changes and factors such as interest rate fluctuations and geopolitical tensions can have a significant impact on these assets. It is important for investors to understand how such external events affect the company’s portfolio value and corresponding net asset value.
From a market research perspective, given these challenges, it is also beneficial to keep an eye on the company’s strategy. Are they diversifying their portfolio? Are they increasing their cash reserves to deal with potential liquidity issues? Such strategic moves could provide a buffer against adverse market conditions and potentially make the company’s shares a more stable investment during turbulent times.
In addition, comparing OFS Credit’s NAV trends to industry benchmarks can provide a clearer picture of their relative performance. If OFS Credit consistently meets or beats benchmarks, this can indicate robust portfolio management and resilience.
While the current NAV estimate is only a snapshot in time, continuous monitoring and understanding the broader implications will ultimately enable investors to make more informed decisions.
CHICAGO–(BUSINESS WIRE)– OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company primarily investing in collateralized loan obligations (“CLOs”) and debt securities, today announced the following estimate of net asset value (“NAV”) as of June 30, 2024.
Management’s unaudited estimate for the range of our net asset value per share of our common stock as of June 30, 2024 is between $7.15 And $7.25. This estimate does not represent a comprehensive statement of our financial condition or results for the month ended June 30, 2024. This estimate has not been subject to the Company’s usual quarter-end financial closing procedures. Please note that current estimates of our NAV per share may differ materially from future NAV estimates or determinations, including the determination for the period ended July 31, 2024, which will be reported in our Monthly Report on Form N-PORT.
Our financial condition, including the fair value of our portfolio investments, and our results of operations may be materially adversely affected by circumstances and events not yet known after June 30, 2024. To the extent that our portfolio investments are adversely affected by increased interest rates and inflation rates, the ongoing war between Russia And Ukrainethe escalated armed conflict in the middle EastInstability in the US and international banking systems are at risk of recession or collapse US Our future net investment income, the underlying value of our investments, our financial condition and the financial condition of our portfolio investments may be materially adversely affected by government services and related market volatility or other factors.
The preliminary financial information 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 procedures with respect to the preliminary financial information. 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 investment company. The Company’s primary investment objective is to achieve current income, and the secondary objective is to achieve capital appreciation, which we seek to achieve primarily through investments in CLO equity securities 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 1940.1as amended, with registered office in Chicago, Illinois with further branches in new York And Los Angeles.
Forward-looking statements
Statements in this press release regarding future expectations, beliefs, intentions, objectives, strategies, plans or prospects of management 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,” “could,” “should,” “will,” “will enable,” “would be expected,” “look forward to,” “could provide,” “would” or similar terminology, variations of such terminology or the negative of such terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including those risks, uncertainties and factors referred to in documents that OFS Credit may file from time to time with the Securities and Exchange Commission, as well as increased interest and inflation rates, the ongoing war between Russia And Ukrainethe escalated armed conflict in the middle EastInstability in the US and international banking systems are at risk of recession or collapse US 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 or implied by the forward-looking statements contained herein. OFS Credit provides the information in this press release as of this date and undertakes no obligation to update the information contained in this press release or to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
1 Registration does not imply any particular level of skills or training
View original version on businesswire.com: https://www.businesswire.com/news/home/20240715912935/en/
What is the estimated NAV range of OFS Credit Company (OCCI) as of June 30, 2024?
OFS Credit Company (OCCI) estimates its net asset value (NAV) per share to be between $7.15 and $7.25 as of June 30, 2024.
What are the main investment priorities of OFS Credit Company (OCCI)?
OFS Credit Company (OCCI) invests primarily in collateralized loan obligations (CLO) stocks and bonds.
What factors could affect the future financial position of OFS Credit Company (OCCI)?
Factors that could affect OCCI’s future financial condition include increased interest rates, inflation, geopolitical conflicts (such as the war between Russia and Ukraine and conflicts in the Middle East), economic uncertainties and possible government shutdowns in the United States.
Has KPMG LLP audited OFS Credit Company (OCCI)’s NAV estimate for June 2024?
No, KPMG LLP has not audited, reviewed, compiled or applied agreed-upon procedures for OCCI’s June 2024 NAV estimate.
OFS Credit Company publishes June 2024 net asset value update
OFS Credit Company (NASDAQ: OCCI) has released an update on its estimated net asset value (NAV) per share as of June 30, 2024. The company, which primarily engages in Collateralized Loan Obligation (CLO) Equity and Debt Securitiesestimates the net asset value per share at $7.15 and $7.25This estimate is unaudited and has not been subject to standard quarter-end financial closing procedures.
The Company cautions that this estimate may differ significantly from future NAV determinations, including those for July 31, 2024. OFS Credit recognizes potential impacts on its financial position and portfolio investments from factors such as increased interest rates, inflation, geopolitical conflicts and economic uncertaintiesThe company emphasizes that these preliminary financial data have not been audited or verified by KPMG LLP.
Positive
Negative
OFS Credit Company provides an unaudited estimate of its Net Asset Value (NAV) per share, which is between$7.15 And $7.25 As of June 30, 2024. This range represents a very narrow window, suggesting some stability in the company’s asset valuation. An important point for investors is that this is an unaudited number and has not been subject to the usual quarterly financial closing procedures.
For retail investors, this NAV estimate provides insight into the company’s performance, but with limited certainty. The impact of this figure depends on a few factors:
Investors should consider these aspects while also keeping an eye on overall market sentiment and other investment opportunities in the same sector for a balanced perspective.
Given the current market volatility, the NAV estimate for OFS Credit Company is a notable data point. CLO stocks and bonds are sensitive to economic changes and factors such as interest rate fluctuations and geopolitical tensions can have a significant impact on these assets. It is important for investors to understand how such external events affect the company’s portfolio value and corresponding net asset value.
From a market research perspective, given these challenges, it is also beneficial to keep an eye on the company’s strategy. Are they diversifying their portfolio? Are they increasing their cash reserves to deal with potential liquidity issues? Such strategic moves could provide a buffer against adverse market conditions and potentially make the company’s shares a more stable investment during turbulent times.
In addition, comparing OFS Credit’s NAV trends to industry benchmarks can provide a clearer picture of their relative performance. If OFS Credit consistently meets or beats benchmarks, this can indicate robust portfolio management and resilience.
While the current NAV estimate is only a snapshot in time, continuous monitoring and understanding the broader implications will ultimately enable investors to make more informed decisions.
Management’s unaudited estimate for the range of our net asset value per share of our common stock as of June 30, 2024 is between$7.15 $7.25
Our financial condition, including the fair value of our portfolio investments, and our results of operations may be materially adversely affected by circumstances and events not yet known after June 30, 2024. To the extent that our portfolio investments are adversely affected by increased interest rates and inflation rates, the ongoing war betweenRussia And Ukraine the escalated armed conflict in the middle East Instability in the US and international banking systems are at risk of recession or collapse US Our future net investment income, the underlying value of our investments, our financial condition and the financial condition of our portfolio investments may be materially adversely affected by government services and related market volatility or other factors.
The preliminary financial information 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 procedures with respect to the preliminary financial information. 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 investment company. The Company’s primary investment objective is to achieve current income, and the secondary objective is to achieve capital appreciation, which we seek to achieve primarily through investments in CLO equity securities 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 1940.1as amended, with registered office inChicago, Illinois with further branches in new York And Los Angeles .
Forward-looking statements
Statements in this press release regarding future expectations, beliefs, intentions, objectives, strategies, plans or prospects of management 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,” “could,” “should,” “will,” “will enable,” “would be expected,” “look forward to,” “could provide,” “would” or similar terminology, variations of such terminology or the negative of such terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including those risks, uncertainties and factors referred to in documents that OFS Credit may file from time to time with the Securities and Exchange Commission, as well as increased interest and inflation rates, the ongoing war betweenRussia And Ukraine the escalated armed conflict in the middle East Instability in the US and international banking systems are at risk of recession or collapse US 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 or implied by the forward-looking statements contained herein. OFS Credit provides the information in this press release as of this date and undertakes no obligation to update the information contained in this press release or to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
1 Registration does not imply any particular level of skills or training
View original version on businesswire.com: https://www.businesswire.com/news/home/20240715912935/en/
INVESTOR RELATIONSHIPS:
OFS Credit Company, Inc.
Steve Altebrando
847-734-2085
[email protected]
MEDIA RELATIONSHIP:
Bill Mendel
212-397-1030
[email protected]
Source: OFS Credit Company, Inc.
FAQ
What is the estimated NAV range of OFS Credit Company (OCCI) as of June 30, 2024?
OFS Credit Company (OCCI) estimates its net asset value (NAV) per share to be between $7.15 and $7.25 as of June 30, 2024.
What are the main investment priorities of OFS Credit Company (OCCI)?
OFS Credit Company (OCCI) invests primarily in collateralized loan obligations (CLO) stocks and bonds.
What factors could affect the future financial position of OFS Credit Company (OCCI)?
Factors that could affect OCCI’s future financial condition include increased interest rates, inflation, geopolitical conflicts (such as the war between Russia and Ukraine and conflicts in the Middle East), economic uncertainties and possible government shutdowns in the United States.
Has KPMG LLP audited OFS Credit Company (OCCI)’s NAV estimate for June 2024?
No, KPMG LLP has not audited, reviewed, compiled or applied agreed-upon procedures for OCCI’s June 2024 NAV estimate.
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