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.