Trinity Capital Receives Investment Grade Rating from Morningstar DBRS
PHOENIX, Feb. 1, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced that DBRS, Inc. ("Morningstar DBRS") a leading provider of independent investment insights, has assigned an investment grade credit rating of "BBB (low)" with a stable outlook to the Company.
"We are pleased with the Morningstar DBRS rating and appreciate their confidence in Trinity," said Kyle Brown, CEO of Trinity Capital. "This rating reflects our solid track record, strong performance, and the stability of our platform, supported by rigorous underwriting on our investments and consistent returns to our shareholders."
The rating affirms Trinity's "track record of operating performance despite volatility in the VC financing ecosystem and diversified funding profile," according to the Morningstar DBRS release. Morningstar DBRS also assigned an investment grade credit rating of "BBB (low)" to the Company's long-term senior debt.
Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, Morningstar DBRS is the fourth-largest credit rating agency in the world and a market leader in Canada, the U.S. and Europe in multiple asset classes.
About Trinity Capital Inc.
Trinity (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth-stage companies. For more information, please visit the Company's website at www.trinitycap.com.
About Morningstar DBRS
Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $264 billion in assets under advisement and management as of June 30, 2023. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company.
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SOURCE Trinity Capital Inc.
