Europes finance ministers yesterday ruled out any fresh moves to stimulate the eurozone economy, despite forecasts that growth across the Continent is about to grind to a halt. The head of the Eurogroup, Jean-Claude Junker, said: We dont see any room for manoeuvre in the euro area which could allow us to launch new fiscal stimulus packages.

The eurozones finance ministers were meeting in Wroclaw, Poland, against a backdrop of intensifying market alarm over the future of the single currency. Mr Juncker also announced during the meeting that the Eurogroups decision on whether to release the next #8364;8bn (#163;7bn) tranche of bail-out funding for Greece will not be taken until the next meeting on 3 October. The funds will only be released if Athens demonstrates progress in bringing down its budget deficit.

For homeowners who want to put solar power on their roofs, a scarcity of financing has long been one of the biggest roadblocks. Many consumers simply don’t have the upfront cash to shell out some $30,000 for solar on their roof, even if it reduces – or eliminates – their electricity bills for decades.

A new player, Clean Power Finance, hopes to help eliminate the financing bottleneck for residential solar and give many more installers the chance to offer financing to their customers. The 4-year-old company, founded by Match.com founder Gary Kremen, has raised $25 million from Kleiner Perkins Caufield amp; Byers, Google Ventures, Claremont Creek Ventures, Clean Pacific Ventures and Sand Hill Angels.

The residential-solar market is growing explosively, said Ben Kortlang, a partner at Kleiner Perkins. We discovered [Clean Power Finance is] delivering the most powerful set of tools and the most efficient financing in the solar-installer community and enabling the installers to grow. We felt this was a critical pain point for the residential solar industry that Clean Power Finance was solving with its technology and platform.

How It Works

Clean Power Finance, based in San Francisco, provides software to help installers design and propose residential and commercial solar projects. Its software now gives qualified installers options for financing their specific projects. CPF is partnering with a variety of different lenders to try to get its customers the best deals, according to Nat Kreamer, the company’s chief executive. It gets a fee for each deal.

The idea is to make solar buying more like car buying. Instead of expecting buyers to pay everything outright, installers can review the options for financing then and there and can help customers apply on the spot.

CPF is hardly the first to offer financing for the residential US solar market. Kreamer himself previously also co-founded Sun Run, a competitor. SolarCity and Sungevity also offer financing. These companies finance the upfront costs of an installation in exchange for an agreement from the resident to buy the power that the system produces, usually at a monthly rate that’s lower than customers’ current electricity bills.

But SolarCity does its own installations, shutting out other installers from its financing. And while Sungevity and Sun Run contract and partner with installers to do the work, they set the terms and limit the number of installers that they work with.

The model could help make many more installers competitive and give the US residential solar market a boost, Kreamer claims. Right now, very few of the people who install solar have viable financing – only 2 to 5 percent of all solar installers, he said. This is a huge opportunity underserved by the market. The new tool also gives homeowners who want to finance their solar-power systems more installer choices.

Unlike leases from Sungevity or Sun Run, CPF’s financing is white labeled, meaning that installers don’t have to market CPF as part of the deal. Customer SolarWorld, for example, simply markets its financing program as SolarWorld Financial Solutions.

CPF’s tool gives installers more flexibility to choose from different types of financing and to alter the project specifications, including the margins, according to the company. And the relationships with Clean Power Finance also are nonexclusive, meaning that installers can go elsewhere if they find a better deal – and still keep using CPF’s financing.

EBay for Solar?

Joe Kraus, a partner at Google Ventures, compared CPF to online marketplace eBay, saying that it will create a larger marketplace for lenders and installers that will aggregate a large chunk of demand in one place. He called it an important tool at a time when many new installers are entering the residential-solar market and most of them need financing. In the past, most of the installers had to negotiate their own financing, but that doesn’t scale very well, he said.

The Business Finance Store takes a lesson from the release of Targets Missoni line and shows businesses how to avoid errors on their websites that may damage sales and profits.

Fountain Valley, CA (PRWEB) September 15, 2011

Fashionistas and all of Targets other online customers were shut out on Tuesday when Targets website crashed due to high traffic volume from the release of the new designer line by Missoni, according to the New York Times. The wild success of this new clothing line had unfortunate effects for Target. Not only did the website crash mean that customers couldnt purchase the much sought-after Missoni products online, but it also meant that Target could not sell any other products online during the hours down on September 13th. Call it unlucky 13 or just poor planning, either way small businesses can learn from Targets unanticipated mistake. In the recent blog post The High Price of Website Failure, the Business Finance Store outlines some of the ways small businesses can avoid catastrophes like website crashes.

There is no doubt that the Missoni line was an instant success. While increased traffic is almost always desirable, the increased demand for Targets new Missoni line somewhat backfired. In this day of modern technology, a companys website is essential; it is more than simply a marketing tool. Making sure the site is clear, quick and fully-functioning can greatly improve sales. Read more about how to avoid Targets mistake by making a business website effective at the Business Finance Stores blog.

The Business Finance Store is a business financing and consulting firm that offers customized Business Financial Solutions. Seasoned professionals offer assistance in a variety of financial solutions to help small businesses succeed such as: Business Financial Solutions, Legal Solutions, and Accounting Solutions.

The staff at The Business Finance Store understand that starting and growing a business is an exciting time. They keep it exciting by taking care of some of the most difficult aspects, by providing legal advice, helping with vital responsibilities like accounting amp; bookkeeping, and by obtaining business finance. They can quickly and easily guide entrepreneurs through many different complicated processes, and put them on the path to success.

For 10 years The Business Finance Store has been helping startups and other small businesses legally structure their companies, find the right franchises, get the funding they need, and to achieve the American Dream of owning their own successful business. Since expanding nationwide in 2007 they have helped thousands of companies and have funded over $60 Million in business credit lines, not including SBA loans. The Business Finance Store sees limitless potential in the current climate, and looks forward to many strong years of growth to come. Take some time to review their services, and give them a call.

For more information, or a free, no-obligation analysis of your business needs, visit The Business Finance Store, visit www.businessfinancestore.com. A member of their professional staff will contact you to discuss your business short and long-term goals. Whatever you need, The Business Finance Store is there.

###

For the original version on PRWeb visit: www.prweb.com/releases/prweb2011/9/prweb8799157.htm

Sept. 2 (Bloomberg) — Paul Miller, managing director at FBR Capital Markets Corp., talks about a potential lawsuit by the US Federal Housing Finance Agency against Bank of America Corp. and other lenders over faulty mortgage loans.
Miller speaks with Adam Johnson on Bloomberg Televisions Fast Forward. (Source: Bloomberg)

American International Group Inc. , the bailed-out US insurer, plans to sell more than 20 percent of its ILFC Holdings Inc. plane-leasing subsidiary in an initial public offering and divest most of the unit over time.

LITTLE ROCK, Ark. Arkansas financial officials said Friday the state brought in $6.9 million less than expected in revenues last month after disappointing sales tax collections, a dip that Gov. Mike Beebe said could prompt budget cuts if it continues.

State revenues in August totaled $373.7 million, the Arkansas Department of Finance and Administration reported. Thats $1.2 million higher than last year but $6.9 million below forecast. State revenues for the fiscal year that began July 1 total $750.7 million, which is $7.6 million below last year and $9.3 million below forecast.

Beebe told reporters the decrease is a concern and that his office may have to look at changing its forecast for the year.

Obviously its something we have to watch very closely, and if the trend continues, well have to make appropriation reductions. … Youve got two months of shortfall totaling $9 or $10 million, and if that trend continues then it will require some adjustments in the flow of money, Beebe said.

Beebe said he didnt have a timeline of how much longer the decrease would have to continue before considering cuts to the states budget forecast. Under Arkansas budget, agencies and services are prioritized and funded based on expected revenues.

Department Director Richard Weiss said he believes finance officials need to continue looking at the revenue figures over the next couple months before taking any action.

Right now, I think it just bears caution, Weiss said.

The largest area of concern for state officials was a lag in sales tax collections. State sales tax collections totaled $182.9 million last month. Thats $5 million less than last year and $11 million below forecast. Part of the drop came from a $5 million one-time use tax collection last year that didnt occur this year.

The numbers dont reflect a sales tax holiday that occurred the first weekend of August, Weiss said, because there is a one-month lag in when retailers report sales tax collections to the state. Those figures will be included in the next revenue report.

State officials have estimated the holiday will cost the state $2.1 million in revenue this year. The holiday was part of a $35 million package of tax cuts that Beebe signed into law earlier this year.

Corporate income tax collections also fell in August, with the state collecting $5.4 million during the month. Thats $400,000 below last year and $600,000 below forecast. Individual income tax collections totaled $192 million, which was $3.1 million above last year and $2.7 million above forecast.

Arkansas ended the previous fiscal year on June 30 with a $94 million surplus.

___

DeMillo can be reached at http://www.twitter.com/ademillo

September 02, 2011

The Chargers and the gravy theory of stadium finance

For your consideration, we present today an article at the awkwardly named ESPNLosAngeles.com that begins like this:

In our romanticized view of football, all a team really needs to play a game is a field, a ball and an opponent. Everything else is gravy.

In the big-money world of the NFL, however, its the gravy that pays the bills.

If all an NFL team needed to be lucrative was a solid field, nice uniforms and good weather, the San Diego Chargers would be the most profitable team in the league.

Sadly, perfectly trimmed Bermuda sod, crisp powder-blue-and-gold uniforms and sunny 75-degree afternoons dont pay the bills in the NFL. State-of-the-art stadiums complete with luxury suites, club seats and plush corporate lounges do.

The article by columnist Arash Markazi goes on to talk about how the Chargers Qualcomm Stadium is a dump, how the Chargers need a new stadium in San Diego or theyll leave for Los Angeles, and so on.

Only one problem: The gravy pays the bills argument is 100% wrong. First off, this is the NFL were talking about here: What pays the bills, first and foremost, are the leagues mammoth TV contracts, which are shared by every team equally regardless of whether they play in a state-of-the-art palace or a shopping mall parking lot.

Still, corporate suites and the like do account for the main differences between the revenues of NFL teams, which is why team owners are so aggressive in pursuing new stadiums. So exactly how much more would a new stadium be worth to the Chargers?

Markazis article cites a study by Conventions Sports Leisure International that asserted that annual operating income for a team playing at Los Angeles as-yet-unbuilt downtown stadium could be $53 million, more than double the Chargers current estimated $24.7 million in annual profit. That sounds impressive. But even an extra $28 million a year wouldnt come close to paying off construction costs on the $800 million stadium that the Chargers want to build which is why the team is asking for public money to do so.

Going back to that lede, then, it really should have read: In the NFL, its the gravy that pays the bills. So long as its someone else paying for the gravy, that is. Because otherwise youd have to be crazy to pay that much for friggin gravy.

Bank of America Corp.

Bank of America Corp.
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faces multiple accusations of securities-law violations and negligence in a series of lawsuits tied to a combined $56.5 billion in mortgage securities sold by Countrywide Financial, Merrill Lynch Co., BofA and the three companies’ various subsidiaries.

BofA bought Countrywide in 2008 and Merrill in 2009 and assumed their liabilities.

The lawsuits, filed late Friday by the Federal Housing Finance Agency, accuse BofA and more than a dozen other large lenders of selling bad mortgage securities to government-sponsored housing companies Fannie Mae and Freddie Mac. The FHFA was established in 2008 as a conservator for Fannie and Freddie as they collapsed under the weight of massive mortgage losses.

Friday’s lawsuits are attempts by the companies to recoup losses from the US housing market meltdown.

The lawsuits accuse BofA (NYSE:BAC) and other lenders of selling Fannie and Freddie mortgage securities between 2005 and 2008 that were, in part, made up of shoddy individual mortgages. The suit claims the banks packaged together home loans that did not meet advertised underwriting guidelines.

“Defendants falsely represented that the underlying mortgage loans complied with certain underwriting guidelines and standards, including representations that significantly overstated the ability of the borrowers to repay their mortgage loans,” the suit says.

Court documents claim the banks in some cases falsified documents to misrepresent borrowers’ incomes and the property values of financed homes. Some banks are believed to have held onto the highest-quality loans while selling lower-quality mortgages to Fannie and Freddie, court documents state.

The FHFA is seeking to recoup its losses from all the soured mortgage securities.

NEW YORK, Aug 11, 2011 (BUSINESS WIRE) –
New Mountain Finance Corporation

/quotes/zigman/5141969/quotes/nls/nmfc NMFC
-0.51%

(the “Company”, “we”, “us”
and “our”) today announced that its Board of Directors declared a second
quarter 2011 dividend of $0.27 per share and a third quarter 2011
dividend of $0.29 per share. The second quarter dividend will be payable
on August 31, 2011 to holders of record as of August 22, 2011 and
represents the Adjusted Net Investment Income per share for the quarter
ended June 30, 2011. The third quarter dividend will be payable on
September 30, 2011 to holders of record as of September 15, 2011 and
represents an estimate of the Adjusted Net Investment Income per share
for the quarter ending September 30, 2011. New Mountain Finance
Corporation also announced today its financial results for the second
quarter ended June 30, 2011.

Except where noted otherwise, all financial information shown is
that of New Mountain Finance Holdings, L.L.C. (the “Operating
Company”).

Selected Financial Highlights
(in thousands, except per share/unit data)
June 30, 2011
Investment Portfolio $ 544,336
Total Assets $ 630,590
Net Asset Value $ 440,605
Net Asset Value per Share/Unit $ 14.25
NAV per Share/Unit, Net of Q2 2011 Dividend $ 13.98
Investment Portfolio Composition: % of Total
First Lien $ 370,988 68.1 %
Second Lien $ 155,955 28.7 %
Subordinated $ 16,917 3.1 %
Equity and Other $ 476 0.1 %
—— ——-
Total $ 544,336
Adjusted *
Three months ended Three months ended
June 30, 2011 Adjustments * June 30, 2011
Investment Income $ 13,116 $ (1,117) $ 11,999
Net Investment Income $ 9,554 $ (1,117) $ 8,437
Net Realized and Unrealized Gain (Loss) $ (899) $ 1,117 $ 218
Net Increase in Capital resulting from Operations $ 8,655 $ 8,655
Net Investment Income per Share/Unit $ 0.27

*Adjusted for unrecognized gains built into the portfolio held as of
the date of our initial public offering (May 19, 2011).

The strength of New Mountain Finance Corporation's unique investment
strategy -- which focuses on acyclical "defensive growth" companies well
researched by New Mountain Capital, a leading private equity firm -- is
underscored by the Company's book value of $13.98 per share as of June
30, 2011 (after reserving for the second quarter dividend) and the fact
that the Company has had 0% defaults, non-performing loans or
performance losses since its inception in October 2008.

"We are pleased that we have met or exceeded our guidance for our
dividend, net investment income, credit quality and loss performance,"
said Steven B. Klinsky, New Mountain Finance Corporation's chairman. "We
believe that our consistent and proven investment strategy has served
and will continue to serve our investors well throughout various credit
cycles. Our performance to date, including in the current volatile
market conditions, is testament to the strength and resiliency of our
differentiated approach."

"Underwriting and credit performance have always been our highest
priorities," said Robert A. Hamwee, New Mountain Finance Corporation's
chief executive officer and president. "The recent economic and market
uncertainty only serve to highlight how important our longstanding focus
on acyclical, defensive industries and business models is."

Portfolio and Investment Activity

New Mountain Finance Corporation is a holding company and its sole asset
is its ownership in the Operating Company. We employ a master-feeder
structure whereby the financial results of the Operating Company are
allocated to us based on our pro-rata interest in the Operating Company.

The Operating Company is externally managed by its Investment Adviser,
New Mountain Finance Advisers BDC, L.L.C. Both New Mountain Finance
Corporation and the Operating Company have elected to be treated as
business development companies under the Investment Company Act of 1940,
as amended.

As of June 30, 2011, our net asset value was $440.6 million and our
portfolio had a fair value of approximately $544.3 million in 47
portfolio companies, with a weighted average Unadjusted and Adjusted
Yield to Maturity(1) of approximately 10.4% and 12.7%,
respectively. For the three months ended June 30, 2011, the Operating
Company made approximately $130.7 million of new investments in 10
portfolio companies. For the three months ended June 30, 2011, the
Operating Company had approximately $42.2 million in debt repayments in
existing portfolio companies, including full repayments due to the
refinancing of two portfolio companies, and sales of approximately $10.3
million.

(1) "Adjusted Yield to Maturity'' assumes that the investments
in the Operating Company's portfolio are purchased at fair value on June
30, 2011 and held until their respective maturities with no prepayments
or losses and are exited at par at maturity. This calculation excludes
the impact of existing leverage, except for the non-recourse debt of New
Mountain Finance SPV Funding, L.L.C ("NMF SLF"). NMF SLF is treated as a
fully levered asset of the Operating Company, with NMF SLF's net asset
value being included for yield calculation purposes. The actual yield to
maturity may be higher or lower due to the future selection of LIBOR
contracts by the individual companies in the portfolio or other factors.
References to "Unadjusted Yield to Maturity" have the same assumptions
as Adjusted Yield to Maturity except that NMF SLF is not treated as a
fully levered asset of the Operating Company, but rather the assets
themselves are consolidated into the Operating Company.

Consolidated Results of Operations

Total adjusted investment income for the three months ended June 30,
2011 was approximately $12.0 million. For the three months ended June
30, 2011, total adjusted investment income consisted of approximately
$10.2 million in cash interest income from investments, approximately
$0.9 million in payment-in-kind interest income from investments, net
amortization of purchase premiums/discounts and origination fees of
approximately $0.6 million and approximately $0.3 million in other
income.

Total expenses for the three months ended June 30, 2011 were
approximately $3.6 million. Total expenses consisted of approximately
$1.5 million of costs associated with our credit facilities,
approximately $1.3 million in management and incentive fees,
approximately $0.5 million in professional fees, and approximately $0.3
million in administrative and other expense. The Operating Company has
capped its direct and indirect expenses for the first year of operations
at $3.0 million and therefore the total amount of professional fees,
administrative expense, and other expense are $0.75 million for the
quarter.

During the three months ended June 30, 2011, the Operating Company
recorded $0.4 million in adjusted net realized losses mainly relating to
partial pay-downs that occurred at par for investments valued at prices
above par at the initial public offering date. During the three months
ended June 30, 2011, the Operating Company recorded $0.6 million in
adjusted net unrealized appreciation.

Liquidity and Capital Resources

As of June 30, 2011, the Operating Company had cash and cash equivalents
of approximately $77.9 million, approximately $22.9 million of unsettled
securities and total debt outstanding of approximately $161.2 million
($34.3 million of the $160.0 million of total availability of our
Operating Company credit facility and approximately $126.9 million of
the $175.0 million of total availability of our NMF SLF credit
facility). Our total capacity for new investments as of June 30, 2011
was approximately $218.6 million after reserving for the payment of our
second quarter 2011 dividend and net current liabilities.

On May 19, 2011, New Mountain Finance Corporation priced its initial
public offering of 7,272,727 shares of common stock at a public offering
price of $13.75 per share. Concurrently with the closing of the offering
and at the public offering price of $13.75 per share, New Mountain
Finance Corporation sold an additional 2,172,000 shares of its common
stock to certain executives and employees of, and other individuals
affiliated with, New Mountain Capital Group, L.L.C. in a separate
private placement. The total gross proceeds raised in the offering were
approximately $129.9 million.

Portfolio and Asset Quality

The Operating Company puts its largest emphasis on risk control and
credit performance. At least quarterly, we formally have a process
whereby we rate each asset on a scale of one to four. Each investment is
originally assigned a rating of a "2." Any investment with deteriorating
performance would first be downgraded to a "3" or a "4". Next, the asset
would be moved to non-accrual status, and the final development would be
an actual crystallization of a loss through a restructuring or impaired
sale. For both our current portfolio at June 30, 2011 and our cumulative
investments since the inception of our credit business in October 2008,
we have never migrated down the performance ladder to a "3" or "4" and
had no material negative developments with any investment in our
portfolio.

Recent Developments

The Operating Company had approximately $106.1 million of originations
and commitments in the first 40 days of the third quarter of 2011,
offset by approximately $8.0 million of prepayments.

Conference Call

New Mountain Finance Corporation will host a conference call at 10 a.m.
Eastern Time on Friday, August 12, 2011, to discuss its second quarter
2011 financial results. All interested parties may participate in the
conference call by dialing 1.800.561.2718 approximately 15 minutes prior
to the start of the call. Callers from outside the United States should
dial 617.614.3525. Participants should reference New Mountain Finance
Corporation and the participant passcode of 13187313 when prompted. This
conference call will also be broadcast live over the Internet and can be
accessed by all interested parties through the investor relations
section of New Mountain Finance Corporation's website at
http://www.newmountainfinance.com/investor-relations .
To listen to the live call, please go to the Company's website at least
15 minutes prior to the start of the call to register and download any
necessary audio software. Following the call you may access a replay of
the event via audio webcast. We will be utilizing a presentation during
the conference call and we have posted the presentation to the investor
relations section of our website.

Financial Statements and Tables of the Operating Company

New Mountain Finance Holdings, L.L.C.
Consolidated Statements of Assets, Liabilities and
Members' Capital
June 30, 2011 December 31, 2010
(unaudited)
Assets
Investments, at fair value (cost $524,049,396 and $414,308,823 $ 544,336,397 $ 441,057,840
respectively)
Cash equivalents, at value (cost $60,000,067 and $0 respectively) 59,999,970 -
Cash 17,850,716 10,744,082
Interest receivable 4,046,499 3,007,787
3,596,057 1,880,120
Deferred credit facility costs (net of accumulated amortization of
$381,192 and
$69,909 respectively)
Deferred offering costs - 3,528,110
Other assets 760,367 5,842
----------- -----------
Total assets $ 630,590,006 $ 460,223,781
====== =========== ======== ===========
Liabilities
SLF credit facility 126,917,448 56,936,000
Holdings credit facility 34,300,000 59,696,938
Payable for unsettled securities purchased 22,885,720 94,462,500
Interest payable 1,092,341 813,192
Management Fee Payable 807,509 -
Incentive Fee Payable 504,393 -
Payable to affiliates - 2,531,319
Other liabilities 3,477,299 3,856,571
----------- -----------
Total liabilities 189,984,710 218,296,520
Members' Capital 440,605,296 241,927,261
----------- -----------
Total liabilities and members' capital $ 630,590,006 $ 460,223,781
====== =========== ======== ===========
Outstanding Common Membership Units 30,919,629
Capital per unit $ 14.25
Capital per unit, net of Q2 2011 dividend $ 13.98

New Mountain Finance Holdings, L.L.C.
Consolidated Statements of Operations
(unaudited)
Adjusted
Three months ended Three months ended
June 30, 2011 Adjustments June 30, 2011
-------------------- ------------- --------------------
Investment income
Interest income $ 12,810,147 (1,117,377) $ 11,692,770
Other income 306,144 306,144
---------- ----------
Total investment income 13,116,291 (1,117,377) 11,998,914
---------- ---------- - ----------
Expenses
Interest and other credit facility expenses 1,534,147 1,534,147
Management fee 773,509 773,509
Incentive fee 504,393 504,393
Professional fees 516,678 516,678
Administrative Expense 62,610 62,610
Other general and administrative expenses 170,712 170,712
---------- ----------
Total expenses 3,562,049 - 3,562,049
Net investment income 9,554,242 (1,117,377) 8,436,865
---------- ---------- - ----------
Realized gains on investments 6,659,833 (7,047,832) (387,999)
Net change in unrealized (depreciation) appreciation of investments (7,559,450) 8,165,209 605,759
Net increase in capital resulting from operations $ 8,654,625 $ 8,654,625
====== ========== ====== ==========

ABOUT NEW MOUNTAIN FINANCE CORPORATION

New Mountain Finance Corporation is a closed-end, non-diversified and
externally managed investment company that has elected to be treated as
a business development company under the Investment Company Act of 1940,
as amended. The Company used all of the proceeds from its initial public
offering as well as the proceeds from its concurrent private placement
to acquire common membership units from New Mountain Finance Holdings,
L.L.C. New Mountain Finance Holdings, L.L.C.'s investment objective is
to generate current income and capital appreciation through the sourcing
and originating of debt securities at all levels of the capital
structure, including first and second lien debt, notes, bonds and
mezzanine securities. In some cases, investments may also include small
equity interests. New Mountain Finance Holdings, L.L.C.'s investment
activities are managed by its Investment Adviser, New Mountain Finance
Advisers BDC, L.L.C., which is an investment adviser registered under
the Investment Advisers Act of 1940. More information about New Mountain
Finance Corporation can be found on the Company's website at
http://www.newmountainfinance.com .

ABOUT NEW MOUNTAIN CAPITAL LLC

New Mountain Capital is a New York-based private equity firm investing
for long-term capital appreciation through direct investments in growth
equity transactions, leveraged acquisitions, and management buyouts. The
firm currently manages private and public equity funds with
approximately $9 billion in aggregate capital commitments. New Mountain
seeks out the highest-quality defensive growth leaders in carefully
selected industry sectors and then works intensively with management to
build the value of these companies. For more information on New Mountain
Capital, please visit
www.newmountaincapital.com .

FORWARD-LOOKING STATEMENTS

Statements included herein may constitute "forward-looking statements,"
which relate to future events or our future performance or financial
condition. In particular, we have included forward-looking statements
related to our third quarter 2011 adjusted net investment income. These
statements are not guarantees of future performance, condition 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 from time to
time in our filings with the Securities and Exchange Commission,
including those contained in our recently filed Form 10-Q and our
Registration Statement on Form N-2 (filed with the Securities and
Exchange Commission on May 16, 2011). New Mountain Finance Corporation
undertakes no duty to update any forward-looking statements made herein.
All forward-looking statements speak only as of the time of this press
release.

SOURCE: New Mountain Finance Corporation

New Mountain Finance Corporation
Adam Weinstein, 212-220-4247
Chief Financial Officer

Copyright Business Wire 2011

/quotes/zigman/5141969/quotes/nls/nmfc

Add NMFC to portfolio

NMFC

New Mountain Finance Corp.

$
11.76

-0.06
-0.51%

Volume: 46,518
Aug. 12, 2011 4:01p

TORONTO (Reuters) – Canada would consider fresh stimulus for its economy if it slipped into recession, its finance minister said on Saturday, a move that could complicate plans to return to a balanced budget by 2014/15.

It will take economic contraction, Finance Minister Jim Flaherty said in an CBC Radio interview when asked what it would take for the government to suspend its budget-cutting policies and start stimulus spending again. It would have to be the oxymoronic word negative growth.

At the beginning of the current fiscal year, Canadas Conservative government began winding down its stimulus spending program, launched two years earlier during the global financial crisis. It has pledged to stop running deficits by 2014/15.

Despite the debt crisis in Europe and threat of a US slowdown, Flaherty expressed guarded optimism about the health of the Canadian economy and said it was important to take a long-term perspective in shaping policy.

We had a very strong first quarter in Canada this year and well see more modest growth … in the rest of the year. But as long as there is growth overall — the moderate growth we expect and some small growth also in the United States – then in North America we will be relatively well off.

Canadas government has forecast the economy will grow by 2.9 percent in 2011.

Flaherty conceded that he was concerned about Europe as well, but that the situation there affected Canada much less than the United States.

FISCAL RESPONSIBILITY

Flaherty said he saw an economic slowdown in the United States — Canadas largest trading partner — as the most significant risk for the country, but said he was confident Canada could weather any renewed global economic turbulence.

Continued…