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MENLO PARK, Calif., April 08, 2025--(BUSINESS WIRE)--TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) ("TPVG" or the "Company"), a leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced that DBRS, Inc. ("Morningstar DBRS") has confirmed the Company’s investment grade Long-Term Issuer Rating and Long-Term Senior Debt Rating of BBB (low). Morningstar DBRS issued a statement announcing the confirmation of the rating and the Stable trend on the rating, as well as Morningstar DBRS’s underlying analysis.
"We are pleased that Morningstar DBRS has reaffirmed our investment grade rating and stable outlook," said Mike L. Wilhelms, chief financial officer of TPVG. "We remain focused on drawing on our strong liquidity position and financial flexibility to capitalize on attractive lending opportunities aimed at further diversifying and growing the portfolio over the long-term."
The investment grade credit rating from Morningstar DBRS reflects, among other things, TPVG’s solid and established franchise via its relationship with the TriplePoint Capital global venture lending platform, an improved leverage profile, TPVG’s return to profitability in 2024, and its resilient funding related to the renewal of its $300 million revolving credit facility in 2024 and $50 million private notes offering in 2025. Morningstar DBRS’s stable trend reflects, among other things, its expectation that TPVG will restore growth to the investment portfolio driven by TPVG’s sector rotation, which Morningstar DBRS anticipates will support improved earnings and credit performance.
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
TriplePoint Venture Growth BDC Corp. is an externally-managed business development company focused on providing customized debt financing with warrants and direct equity investments primarily to venture growth stage companies in technology and other high growth industries backed by a select group of venture capital firms. The Company’s sponsor, TriplePoint Capital, is a Sand Hill Road-based global investment platform which provides customized debt financing, leasing, direct equity investments and other complementary solutions to venture capital-backed companies in technology and other high growth industries at every stage of their development with unparalleled levels of creativity, flexibility and service. For more information about TriplePoint Venture Growth BDC Corp., visit https://www.tpvg.com. For more information about TriplePoint Capital, visit https://www.triplepointcapital.com.