Garrison Capital seeks shareholder approval to leverage up an already highly leveraged balance sheet. We review the arguments for and against and offer up our own clear succinct conclusion.
Contradictory data about the direction of the BDC common sector, but the trend seems more to the downside than the upside.
Like in “Jaws’, the surface of BDC Fixed Income market seems calm. Underneath the surface, though, new dangers lurk. Some Note Holders might be wishing they had brought a bigger boat.
S&P speaks up about the new BDC leverage rules, expressing concern. Will the credit raters keep BDCs from borrowing to the hilt. If not the rating groups, then who ? We discuss the options and look into a glass. Darkly.
The first week of BDC Earnings Season and the sector takes another dive down. We discuss who may still join Triangle Capital in reporting disastrous results, and much else. Fixed Income fares better, but the longer term trends should worry BDC debt holders.
We preview the challenges facing Garrison Capital (GARS) in advance of second quarter earnings; including credit problems; a potential dividend cut and maintaining shareholder confidence.
The BDC Reporter -aided by research undertaken by the BDC Credit Reporter – updates its view of whether the current dividend of Garrison Capital is sustainable following the bankruptcy of a portfolio company.
The BDC Reporter reviews the sustainability of Garrison Capital’s $0.28 quarterly distribution in the year ahead. Is maintenance of the current pay-out Likely, Possible or Unlikely ?
Pathology services company restructures its unsecured debt, but is this only a stalling tactic ?
Oil pipe manufacturer restructures out-of-court with debt for equity swap. BDC exposure: $44.4mn
Latest in a series. We reveal our updated price target. P.S. Not there yet.
Update on Garrison Capital’s slumping stock price.
We initiate coverage of Garrison Capital as a potential Investment Idea as the stock price hits a record low.
