DBRS revises TriplePoint trend to negative

DBRS said it confirmed the long-term issuer rating and long-term senior debt rating of TriplePoint Venture Growth BDC Corp. at BBB and revised the trend on the ratings to negative from stable.

The company’s intrinsic assessment (IA) is BBB, while its support assessment is SA3, resulting in TPVG’s final ratings positioned in line with its IA.

The revision of the trend to negative from stable reflects both the upheaval in the VC ecosystem from the failure of Silicon Valley Bank and challenges at TPVG, DBRS said in a news release.

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