Welcome to our dedicated page for OFS Credit Company news (Ticker: OCCI), a resource for investors and traders seeking the latest updates and insights on OFS Credit Company stock.
OFS Credit Company, Inc. Common Stock (symbol: OCCI) is a non-diversified, closed-end management investment company with a primary objective of generating current income and a secondary objective of capital appreciation. The company strategically invests in a variety of credit instruments, with a special focus on floating rate credit and structured credit investments.
OCCI's investment portfolio includes:
- Collateralized Loan Obligation (CLO) debt: These are securities backed by a pool of loans, typically leveraged, which provide a dependable source of income.
- Subordinated securities: Also known as residual or equity securities, these offer higher yields due to their junior status in the capital structure.
- Traditional corporate credit investments: This category covers leveraged loans and high yield bonds, enhancing the portfolio's income generation capacity.
- Opportunistic credit investments: These include stressed and distressed credit situations, providing opportunities for capital appreciation through market mispricing.
- Long/short credit investments: These strategies aim to profit from both rising and falling credit markets by taking long and short positions.
- Other credit-related instruments: A diversified approach to credit, including various innovative and structured products.
OFS Credit Company, Inc. is committed to maintaining a robust and diversified portfolio that balances income generation with capital appreciation. The company鈥檚 strategic approach to investment and risk management has positioned it as a significant player in the credit investment landscape. With a focus on floating rate instruments, OCCI mitigates interest rate risk, making it an attractive option for income-seeking investors.
Recent achievements and ongoing projects reflect OCCI鈥檚 dedication to growth and stable returns. The company's partnerships and expert management team work hand in hand to continuously explore and capitalize on new investment opportunities, ensuring the portfolio remains dynamic and well-balanced.
OFS Credit Company reported financial results for the quarter ended January 31, 2021, revealing a net investment income of $1.1 million ($0.29 per share) and a core net investment income of $2.6 million ($0.72 per share). The company's net asset value rose 22% to $14.14 per share. A quarterly distribution of $0.53 per share was declared, reflecting a 2% increase from the previous quarter. As of January 31, 2021, the total fair value of investments stood at $71.4 million, with a stable interest income of $2.75 million. The company experienced a net gain of approximately $10 million from investments during the quarter.
OFS Credit Company (NASDAQ: OCCI) has announced its unaudited net asset value (NAV) estimate for January 31, 2021, ranging from $14.09 to $14.19 per share. This estimate is preliminary and has not been audited, indicating potential deviations when reported officially. The company warns that the ongoing COVID-19 pandemic may significantly affect its financial condition and the valuation of its investments, leading to potential adverse impacts on future income and overall financial health.
OFS Credit Company (NASDAQ:OCCI) has declared a quarterly cash distribution of $0.53 per share, marking a 2% increase from the previous quarter, payable on April 30, 2021. Stockholders can choose between cash or stock, with 80% of the distribution expected to be in shares. The Company also announced cash distributions for its 6.875% Series A and 6.60% Series B Term Preferred Stocks. The preferred share distributions are set at $0.1432292 and $0.1375 respectively for several upcoming months. Management anticipates that these actions will enhance the balance sheet and position the company for future investments.
OFS Credit Company (NASDAQ: OCCI) announced an estimated net asset value (NAV) per share of $13.44 to $13.54 as of December 31, 2020. This figure is unaudited and may significantly differ from future reports. The ongoing COVID-19 pandemic poses considerable risks, potentially impacting investment valuations and future net investment income. Management is responsible for the preliminary data, which has not been audited by KPMG LLP, and the company risks material adverse effects from the pandemic on its financial health.
OFS Credit Company (NASDAQ: OCCI) announced its unaudited net asset value (NAV) estimate as of November 30, 2020, ranging from $13.12 to $13.22. This figure is provisional and may not reflect the company's actual financial condition upon full reporting. The COVID-19 pandemic poses ongoing risks and uncertainties that could materially impact the valuation of the company鈥檚 investments and overall financial performance. The preliminary data has not been audited, and there could be substantial differences in the NAV reported in future filings.
OFS Credit Company (NASDAQ: OCCI) reported its financial results for the fiscal quarter ending October 31, 2020, with a net investment income of $1.2 million, or $0.35 per share. Core net investment income rose to $2.8 million, reflecting strong cash flow from CLOs due to low LIBOR rates. The company declared a distribution of $0.52 per share for Q1 2021, with an annualized rate of $2.08. The net asset value increased to $11.58 per share, up from $10.94. Total expenses increased slightly, while investments appreciated by approximately $3.1 million, mainly due to rising loan prices.
OFS Credit Company (NASDAQ: OCCI) announced an estimated net asset value (NAV) of $11.53 to $11.63 per share as of October 31, 2020. The company raised approximately $2.9 million by issuing 120,000 shares of its 6.60% Series B Term Preferred Stock due November 19, 2023. The proceeds will be directed towards new investments and general working capital. The ongoing COVID-19 pandemic poses significant risks and uncertainties which may adversely affect the company's financial performance and the valuation of its investments.
OFS Credit Company, Inc. (NASDAQ: OCCI) announced an estimated net asset value (NAV) per share for September 30, 2020, ranging from $11.09 to $11.19. This estimate has not been audited and may significantly differ from the results reported in the upcoming Form N-CSR. The company cautioned that the ongoing COVID-19 pandemic poses uncertainty and risks that could negatively impact its financial performance and portfolio valuations. The preliminary financial data is solely the responsibility of management and has not been reviewed by KPMG LLP.
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