Eagle Point Credit Company Inc. Unsecured Debt Assigned ‘A-’ Rating by Egan-Jones Rating Company
August 13 2015 - 5:50PM
Business Wire
Eagle Point Credit Company Inc. (NYSE:ECC) (NYSE:ECCA) (the
“Company”) today announced that, on August 13, 2015, Egan-Jones
Ratings Company (“Egan-Jones”) assigned a rating of ‘A-’ in
connection with one or more potential future issuances by the
Company of up to $50 million aggregate principal amount of
approximately five-year term unsecured notes.
As of today, the Company’s total equity market capitalization
(inclusive of preferred stock outstanding) is approximately $329
million. At present, the Company has no debt outstanding. As a
registered closed-end investment company, the Company is subject to
a statutory asset coverage requirement of 300% with respect to its
debt securities.
Investors should consider the Company’s investment
objectives, risks, charges and expenses carefully before investing
in securities of the Company. The Company has a registration
statement relating to unsecured notes on file with the Securities
and Exchange Commission (“SEC”) which contains information about
the Company and should be read carefully before investing. The
registration statement has not yet been declared effective by the
SEC and, together with any prospectus relating thereto, is not
complete and may be changed. The securities that are the subject of
the registration statement, if issued, may not be sold until the
registration statement filed with the SEC is effective. The
registration statement is publicly available on the EDGAR Database
on the SEC website at http://www.sec.gov. This press
release is not an offer to sell securities and is not soliciting an
offer to buy securities in any jurisdiction where the offer or sale
is not permitted or would be unlawful prior to registration or
qualification under the securities laws of such
jurisdiction.
Egan-Jones is a nationally recognized statistical rating
organization (NRSRO). A security rating is not a recommendation to
buy, sell or hold securities, and any such rating may be subject to
revision or withdrawal at any time by the applicable rating
agency.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a non-diversified, closed-end management
investment company. The Company’s investment objective is to
generate high current income and capital appreciation primarily
through investment in equity and junior debt tranches of
collateralized loan obligations. The Company is externally managed
and advised by Eagle Point Credit Management LLC. The principals of
Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W.
Ko and Daniel M. Spinner.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute 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 in the
prospectus and the Company’s other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
Source: Eagle Point Credit Company Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20150813006435/en/
Investor Relations:Eagle Point Credit Company Inc.Kenneth P.
Onorio, 203-340-8500Chief Financial
Officerkonorio@EaglePointCredit.com
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