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Capital Southwest: IVQ 2019 Credit Preview

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With Capital Southwest’s IVQ 2019 earnings release coming up shortly, we preview which portfolio companies investors should be looking out for from a credit standpoint. We are drawing on the BDC Credit Reporter’s in-depth research into all under-performing BDC companies, which is updated daily as new information rolls in.

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BDC Appeal To Amend AFFE Rule Withdrawn

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A long standing attempt by a BDC trade organization to change a critical rule has foundered. We discuss what we’ve learnt and how BDC investors and managers might benefit if and when the government changes its mind about how exchange traded funds expenses are reported to investors. An arcane but important subject for both existing and prospective investors in the public BDC arena.

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Ares Capital: Issues Unsecured Debt

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Ares Capital raises a great deal of new unsecured debt on very favorable terms. We discuss the nitty gritty and the likely impact on balance sheet and income statement. We also consider this new debt issue in a broader BDC context and ponder the implications.

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Saratoga Investment: IVQ 2019 Results Summary

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Saratoga Investment kicks off IVQ 2019 BDC earnings season because the BDC closes its books one month earlier than most everyone else. That gives the smaller sized BDC a chance to shine, with stellar results. We’ve reviewed everything but the Conference Call to prepare this summary.

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Saratoga Investment: To Retire Baby Bond – UPDATED

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Saratoga Investment is calling in the final portion of one of its Baby Bonds. We review the details of the imminent redemption and look forward to what the BDC’s balance sheet might look like in the future. [This article was updated after the publication of the BDC’s 10-Q]

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