Garrison Capital receives 'green light' letter from U.S. SBA Garrison Capital announced that the U.S. Small Business Administration has issued a "green light" letter the company to proceed with an application to obtain a license to form and operate a Small Business Investment Company subsidiary. If approved, an SBIC license would be expected to provide Garrison Capital with an incremental source of long-term financing. Receipt of a green light letter from the SBA does not assure an applicant that the SBA will ultimately issue an SBIC license and Garrison Capital has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive a license, should one ultimately be granted.
Garrison Capital upgraded to Outperform from Neutral at RW Baird Baird upgraded Garrison Capital to Outperform based on discounted NAV valuation, dividend upside, and the expected SBIC license. Price target raised to $16 from $15.