PennantPark Investment Corporation Receives “BBB+” Rating from Egan-Jones
July 29 2019 - 9:00AM
PennantPark Investment Corporation (NASDAQ: PNNT), a leading
provider of capital to middle-market companies, today announced
that it has been assigned a senior unsecured credit rating of
“BBB+” from Egan-Jones Rating Company (“Egan-Jones”). This is an
upgrade from the “BBB” rating received in August 2017.
“Since PennantPark Investment Corporation’s
initial Egan-Jones rating two years ago, we have substantially
reduced risk and optimized the portfolio through an increased focus
on senior secured credits and greater diversification,” said Art
Penn, Chairman and Chief Executive Officer. “We are pleased that
Egan-Jones has recognized our disciplined underwriting
approach.”
Egan-Jones is a Nationally Recognized
Statistical Rating Organization and is recognized by the National
Association of Insurance Commissioners as a Credit Rating Provider.
Egan-Jones is also certified by the European Securities and Markets
Authority.
ABOUT PENNANTPARK INVESTMENT
CORPORATION
PennantPark Investment Corporation is a business
development company which principally invests in U.S. middle-market
private companies in the form of second lien secured debt,
subordinated debt and equity investments. PennantPark Investment
Corporation is managed by PennantPark Investment Advisers, LLC
(“PennantPark”).
ABOUT PENNANTPARK INVESTMENT ADVISERS,
LLC
PennantPark is a leading middle market credit
platform, which today has more than $3 billion of assets under
management. Since its inception in 2007, PennantPark has
provided investors access to middle market credit by offering
private equity firms and their portfolio companies as well as other
middle-market borrowers a comprehensive range of creative and
flexible financing solutions. PennantPark is headquartered in New
York and has offices in Chicago, Houston and Los Angeles.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. You should understand that under Section
27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section
21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended, or
the Exchange Act, the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 do not apply to
forward-looking statements made in periodic reports we file under
the Exchange Act. All statements other than statements of
historical facts included in this press release are forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in filings with the SEC. The Company undertakes no duty to
update any forward-looking statement made herein. You should not
place undue influence on such forward-looking statements as such
statements speak only as of the date on which they are made.
We may use words such as “anticipates,”
“believes,” “expects,” “intends,” “seeks,” “plans,” “estimates” and
similar expressions to identify forward-looking statements. Such
statements are based on currently available operating, financial
and competitive information and are subject to various risks and
uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations.
CONTACT: Aviv
Efrat
PennantPark Investment
Corporation
Reception: (212) 905-1000
www.pennantpark.com
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