2023-03-15 08:30:00 ET
- From both an asset and liability perspective, Crescent Capital BDC ( NASDAQ: CCAP ) has zero direct exposure to failed lenders Silicon Valley Bank and Signature Bank, it said Wednesday in a business update .
- Still, the company said it has identified certain instances of portfolio companies having exposure to SVB solely through deposit accounts, most of which "are immaterial in nature, and would not have meaningfully impacted the companies’ operations should depositor support not have been provided."
- And none of its portfolio companies have exposure to Signature via deposit accounts.
- CCAP edged lower by 0.6% in premarket trading.
- Last month, (Feb. 22) Crescent Capital posted mixed full-year results.
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Crescent Capital says it has no direct exposure to failed banks SVB, Signature