Fitch Affirms NewStar's CAM2 Asset Manager Rating
BOSTON, April 1, 2009 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS) announced today that Fitch Ratings has affirmed its CAM2 asset manager rating. According to Fitch, the affirmation of the CAM2 asset manager rating reflects NewStar's credit management experience, conservatively underwritten investment portfolio and stable loan portfolio performance track record to date.
"The rating is a confirmation of NewStar's strong credit culture and focus on conservatively-structured senior debt. It also reflects the deep experience of our management team, made up of seasoned bankers who have navigated multiple credit cycles," said John Frishkopf, NewStar's Treasurer and Head of Asset Management.
Fitch rates CDO asset managers on a scale of CAM1 (highest) to CAM5 (lowest). A CAM2 rating is defined as: "Strong asset manager operations demonstrating low vulnerability to operational and investment management failure."
About NewStar Financial, Inc.:
NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets 'hold' positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, and Charleston SC. For more detailed transaction and contact information, please visit our website at www.newstarfin.com.
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CONTACT: NewStar Financial
Colleen M. Banse
Brian J. Fischesser
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