KINGWOOD, TX – Moody’s Investors Service and DBRS issued the highest possible ratings, Aaa and AAA respectively, on Ascentium Capital’s senior class of notes in their second securitization which closed today. The underwriters of the transaction were Bank of America, Credit Suisse and JP Morgan Chase Bank.
The triple-A ratings significantly lower the cost at which the organization borrows funds enabling Ascentium Capital to become even more competitive. "This rating validates the strength and stability of Ascentium Capital," said Tom Depping, Chief Executive Officer of Ascentium Capital.
The ratings were based on several critical factors including:
Evan Wilkoff, Executive Vice President of Capital Markets, comments, "Our highly diversified funding strategy also helped us achieve this rating. As we continue to build off of our proven strategy, we're confident this momentum will drive exceptional business growth and profitability in 2014."
Ascentium Capital, as a direct lender, specializes in providing equipment financing and leasing solutions that drive growth and profit for equipment manufacturers, distributors as well as direct financing to businesses nationwide. The company is backed by the strength of leading private investment firms Vulcan Capital and LKCM Capital Group, LLC. For more information, please visit AscentiumCapital.com.