The BDC Reporter re-publishes and annotates an important article in the financial press about an aspect of BDC liquidity in the coronavirus-era.
The BDC rally is placed on hold by increasing worries about a possible global pandemic. Meanwhile, the third week of BDC earnings season maintains the mostly favorable trends apparent in the prior two weeks.
The BDC Reporter re-publishes an article from Leveraged Commentary & Data about third quarter 2019 trends and uses the opportunity to discuss some of the fundamental changes going on before our eyes in how the sector does business.
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.