BDC Credit Reporter Alert discusses the May 10th payment default at Warren Resources, an oil and gas producer and another company on our Master Watch List. We share our updated view on what might happen to the senior lenders to the Company, which include very large amounts held by several FS Investment funds. We also link readers to our full file on the Company.
The BDC Credit Reporter Alert discusses a new restructuring underway at Cenveo Corporation, and the potential impact on BDC exposure to the Company. Main Street Capital (MAIN) and Hms Income (HMS) have made Senior Secured advances, which are on our Watch List. Click on the attached file for all the news and background info.
The BDC Credit Reporter delves into the two Ares Capital (ARCC) loans that came off non-accrual in the first quarter of 2016 and questions whether the Company is really turning the corner from a credit point of view.
Sparked by the news of retailer Aeropostale's bankruptcy, the BDC Credit Reporter took advantage of the search capabilities of Advantage Data-which maintains a database of every investment asset in the BDC ecosphere-to take a snapshot of exposure to the changing world of shopping. Teaser: Guess which BDC has the biggest commitment to Retail...
The BDC Credit Reporter alerts its readers to new developments at one of Golub Capital's (GBDC) under-performing portfolio investments: Avatar Solutions. For the full details, click on our easy to use new file format at the end of the article.
The BDC Credit Reporter has an in-depth look at one of the under-performing companies mentioned on BlackRock Capital's (BKCC) recent Conference Call and uses the opportunity to highlight the information gathered-and our conclusions-in a new "Company File" format which we hope to make standard in the future. Feed-back from readers is requested in the new Comments section.
The BDC Credit Reporter provides detailed information (thanks to our partnership with Advantage Data) in tabular form about cross holdings of under-performing companies in BlackRock Capital's (BKCC) just announced IQ 2016 portfolio that are also held by other BDCs and might be subject to write-downs when they report their results.
The BDC Credit Reporter discussed the credit problems at BlackRock Capital (BKCC) after the release of its quarterly filing but before the ensuing Conference Call. After listening to the management and spending more time with the data, we make some additional comments about BKCC's under-performing AND performing investments, and discuss the likely way forward.
As a heads up, the BDC Credit Reporter points out to FS Investment (FSIC) and KCAP Financial (KCAP) shareholders that BlackRock Capital's write-down of Advanced Lighting Technologies might be repeated in their portfolios once results are filed for the quarter, given that they all have similar exposure to the company.
The BDC Credit Reporter provides a brief update on the poor credit performance at BlackRock Capital (BKCC) in the first quarter of this year, after a similarly disappointing fourth quarter of 2016. In a very short period the investment portfolio has gone from hero to zero. We provide details and updates. More to come after the Conference Call.