BDC sector prices break a 2019 record on the way up. We wonder, though, where’s the usual enthusiasm associated with stock rallies, which is not showing up in much of the data. What’s more, how do high prices mesh with growing credit concerns at borrowers ?
Goldman Sachs BDC plans to merge with its non-traded sister BDC. The BDC Reporter takes a quick and deep dive into the just released announcement and provides analysis about the key claims made by the BDCs shared external manager after reviewing all available materials.
In the second quarter of 2019 Goldman Sachs BDC performed relatively poorly as recurring earnings and book value both dropped, as did analyst future expectations.
The BDC Reporter amends its 12 month Dividend Outlook for Goldman Sachs BDC after reviewing the IQ 2019 results.
The BDC Reporter updates where Goldman Sachs BDC stands in its plan to take advantage of the Small Business Credit Availability Act, and compares against projected income and distribution in the years ahead. Second in a series about the risk-return involved in the new rules.
BDC Fixed Income moved up modestly in quiet week. However, changes are underway in how some BDC debt is rated which could have major implications.
Goldman Sachs BDC shareholders fail to play ball for a second time. We discuss the pros and cons of issuing shares below book and project what might happen next. We also discuss the touchy subject of compensation…
A short, but positive week for BDC common stocks. Looking forward to earnings season, the BDC Reporter sees more daylight ahead.
S&P downgrades two BDCs and gets kicked to the curb. We revisit the changing risk profile of the BDC sector through the prism of yet another fund that has adopted the new higher leverage rules. Worrying but important reading.
BDC Fixed Income prices soften, but probably for a transient reason. More importantly, the “leveraging up” of the BDC Sector begins with two new issues and the dynamics of the industry begin to change. One of those Good News/Bad news stories.
Nothing much happening in the foreground where BDC Fixed Income is concerned. In the background, though, the scene is being set for a huge expansion of the sector.
Just a routine story about Goldman Sachs BDC receiving an investment grade rating from Fitch, or a seminal moment in risk rating following the passage of the Small Business Credit Availability Act ?
Nothing to report on the BDC Fixed Income price front and only two minor debt raising developments. The big changes in this market remain in the (not so distant) feature.