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Eagle Point Credit Company Inc. Announces an Interim Portfolio Update for August 2015

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GREENWICH, Conn.--(BUSINESS WIRE)--

Eagle Point Credit Company Inc. (NYSE: ECC) (NYSE:ECCA) (the "Company") has today announced certain updated and estimated portfolio information for the month ended August 31, 2015.

Over the last month, global markets faced significant price volatility. The Company believes that the volatility was prompted by changes in oil and other commodity prices, among other macro factors.

During August, many investments in the Company's collateralized loan obligation ("CLO") portfolio also faced pricing pressure. Based on preliminary results, the Company's unaudited estimate of its net asset value ("NAV") per share of common stock as of August 31, 2015 is between $17.45 and $17.55. As the Company generally determines its NAV on a quarterly basis, this range reflects management's current estimate for the period ending August 31, 2015, is announced for information purposes only and is subject to revision.

Within the Company's portfolio, based on information provided to us as of August 2015, the Company estimates that it has exposure to approximately 1,082 distinct underlying borrowers, with no one borrower representing over 0.93% of the Company's aggregate exposure to underlying loans. As of August 2015, the Company's portfolio of investments had estimated exposure to the Oil and Gas industry and Metals and Mining industry of 4.4% and 1.5%, respectively.

Further, the Company estimates that over 97.3% of its exposure to corporate credit is in the form of senior secured loans. The Company believes this form of exposure provides greater protection to creditors who typically enjoy a first-priority pledge on a borrower's assets as compared to high yield bond investors who are typically "second in line" and often unsecured.

Finally, upon a review of the Company's current portfolio, the Company does not anticipate a material change in its internal return estimates for the Company's CLO equity positions.

The Company typically makes the above unaudited estimates of portfolio and NAV information available on its website (www.eaglepointcreditcompany.com) toward the latter part of each month. However, given the recent market volatility, the Company decided to accelerate this announcement for the August 2015 month end. In addition, the Company plans on publishing an August 2015 portfolio update later this month with additional information (including an updated estimated NAV, if applicable) that is in line with the Company's usual practice for prior months.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-diversified, closed-end management investment company. The Company's investment objective is to generate high current income and capital appreciation primarily through investment in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC. The principals of Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W. Ko and Daniel M. Spinner. The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointcreditcompany.com).

FORWARD-LOOKING STATEMENTS

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company's filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Source: Eagle Point Credit Company Inc.

Investor Relations:
Eagle Point Credit Company Inc.
Kenneth P. Onorio, 203-340-8500
Chief Financial Officer
IR@EaglePointCredit.com

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