---
title: A new high for Cannabis finance
description: This Firm Has Received The Industry's First 'A' Credit Rating. (Benzinga) In a key development for the regulated cannabis sector, Pelorus Capital Group has
image: https://420intel.com/hubfs/Imported_Blog_Media/A%20new%20high%20for%20Cannabis%20finance.jpg
---

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# A new high for Cannabis finance

- [Admin](https://420intel.com/blog/author/admin)
- [Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news)
- 7 March 2024

## This Firm Has Received The Industry's First 'A' Credit Rating. ([Benzinga](https://www.benzinga.com/markets/cannabis/23/05/32401689/a-new-high-for-cannabis-finance-this-firm-has-received-the-industrys-first-a-credit-rating))

In a key development for the regulated cannabis sector, **Pelorus Capital Group** has announced that **its 7% senior secured notes have achieved an "A" institutional rating, the highest ever seen in the cannabis industry. **This unprecedented rating was given by Egan-Jones Rating Company, a prestigious and internationally recognized credit rating agency, and is seen as an endorsement of Pelorus' financial health and growth.

Pelorus Capital Group, a data-driven provider of commercial real estate loans for the regulated cannabis industry, had issued $50 million in aggregate principal amount of these notes through its subsidiary, the **Pelorus Fund REIT, LLC**. The notes, due September 26, 2026, were previously unsecured when issued in 2021 and had received a BBB+ rating from Egan-Jones, making them the highest-rated issuance by a privately held mortgage REIT (mREIT) in the cannabis sector.

"We are proud to achieve a cannabis-industry first by achieving an A-flat rating," said **Dan Leimel,** CEO of Pelorus Capital Group and the manager of the Pelorus Fund. The boost in rating has allowed Pelorus to display a resounding show of strength, despite challenging market conditions, especially within the cannabis sector. Leimel believes this puts the company in a strong position to grow their deal pipeline, bolster their business, and offer attractive lending solutions to cannabis businesses nationwide.

The Pelorus Fund, at the time of the initial issuance of the notes, had assets under management worth approximately $130 million. This figure has seen an impressive increase, almost tripling to the current $376M. The significant growth of AUM, combined with a strong balance sheet, a successful track record, and consistent investment income growth year over year, has resulted in Egan-Jones upgrading the BBB+ rating to an A.

Pelorus has completed 73 commercial real-estate loan transactions, deploying approximately $545 million in loan proceeds to cannabis businesses and real estate owners across 10 states in the U.S. This covers an impressive 4,473,000 square feet of real estate. By providing speedy funding for approved construction draws and offering the convenience of financing entire projects under a single agreement, Pelorus has demonstrated its commitment to helping its clients stabilize their cash flows and focus on their core business goals and objectives.

by [Javier Hasse](https://www.benzinga.com/author/javier-hasse)

## For more Cannabis News like this, circle back to [420intel.com](https://420intel.com/)!

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[Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news) [Recreational Cannabis News](https://420intel.com/blog/tag/recreational-cannabis-news) [Cannabis Jobs](https://420intel.com/blog/tag/cannabis-jobs)

#### [Admin](https://420intel.com/blog/author/admin)

[Cannabis Politics](https://420intel.com/blog/tag/cannabis-politics) [![Petitions seek to remove Vermont's THC caps](https://420intel.com/hs-fs/hubfs/Imported_Blog_Media/Petitions%20seek%20to%20remove%20Vermonts%20THC%20caps.jpg?width=550&height=395&name=Petitions%20seek%20to%20remove%20Vermonts%20THC%20caps.jpg)](https://420intel.com/blog/petitions-seek-remove-vermonts-thc-caps)

- [Admin](https://420intel.com/blog/author/admin)
- 7 March 2024

#### [Petitions seek to remove Vermont's THC caps](https://420intel.com/blog/petitions-seek-remove-vermonts-thc-caps)

Recreational cannabis has been legal for retail sale in Vermont for almost a year, but the work to...

[Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news) [![Marijuana flower prices take over 50% dive](https://420intel.com/hs-fs/hubfs/Imported_Blog_Media/Marijuana%20flower%20prices%20take%20over%2050%25%20dive.jpg?width=550&height=395&name=Marijuana%20flower%20prices%20take%20over%2050%25%20dive.jpg)](https://420intel.com/blog/marijuana-flower-prices-take-over-50-dive)

- [Admin](https://420intel.com/blog/author/admin)
- 7 March 2024

#### [Marijuana flower prices take over 50% dive](https://420intel.com/blog/marijuana-flower-prices-take-over-50-dive)

## BIG RAPIDS - The marijuana industry has been growing in Michigan and Big Rapids, and the statistics...

[Recreational Cannabis News](https://420intel.com/blog/tag/recreational-cannabis-news) [![How green is Vermont’s cannabis industry?](https://420intel.com/hs-fs/hubfs/AI-Generated%20Media/Images/The%20image%20depicts%20a%20vibrant%20greenhouse%20at%20Sunset%20Lake%20Cannabis%20in%20South%20Hero%20Vermont%20filled%20with%20lush%20green%20cannabis%20seedlings%20Sunlight%20streams%20through%20the%20glass%20panels%20illuminating%20the%20delicate%20plants%20that%20are%20arranged%20in%20neat%20rows%20on%20benches%20In%20the-1.jpeg?width=550&height=395&name=The%20image%20depicts%20a%20vibrant%20greenhouse%20at%20Sunset%20Lake%20Cannabis%20in%20South%20Hero%20Vermont%20filled%20with%20lush%20green%20cannabis%20seedlings%20Sunlight%20streams%20through%20the%20glass%20panels%20illuminating%20the%20delicate%20plants%20that%20are%20arranged%20in%20neat%20rows%20on%20benches%20In%20the-1.jpeg)](https://420intel.com/blog/how-green-is-vermonts-cannabis-industry)

- [![Buzz](https://420intel.com/hs-fs/hubfs/Buzz-No%20Outline-2.png?width=80&height=80&name=Buzz-No%20Outline-2.png) Buzz](https://420intel.com/blog/author/buzz)
- 30 April 2025

#### [How green is Vermont’s cannabis industry?](https://420intel.com/blog/how-green-is-vermonts-cannabis-industry)

SOUTH HERO, Vt. \[WCAX\] - Research shows indoor cannabis cultivation emits significantly more...

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