trending Market Intelligence /marketintelligence/en/news-insights/trending/geoiAZNWkbbiy06Lg-DmoQ2 content esgSubNav
In This List

Kroll puts Hercules Capital on Watch Developing after CEO's indictment

Blog

Managed Services Insights: The client lifecycle management solution

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Banking Essentials Newsletter: May 15th Edition

Blog

Data Insights: Enhancing regulatory compliance and client lifecycle management.


Kroll puts Hercules Capital on Watch Developing after CEO's indictment

Kroll Bond Rating Agency placed Hercules Capital Inc.'s BBB+ issuer and senior unsecured debt ratings on Watch Developing following former CEO Manuel Henriquez's indictment in an alleged bribery scheme to secure students' admission to top U.S. universities.

Henriquez stepped down as chairman and CEO on March 13 in response to the indictment.

The Watch Developing status reflects potential outcomes of Henriquez's indictment and uncertainty surrounding his ability to continue to lead Hercules Capital, the rating agency said. It also noted the company's reliance on Henriquez, who has been responsible for its solid growth and performance.

Kroll in September 2018 affirmed the BBB+ company's issuer and senior unsecured debt ratings, with a stable outlook.