We re-publish a BDC Credit Reporter about the Chapter 11 exit of a portfolio company of Garrison Capital and Investcorp Credit Management and discuss one of the most favored strategies lenders are adopting when debt investments go awry.
The holiday shortened Christmas week was also the last full week of the year for the BDC sector. We recap where prices went in the few days the market was open and look back over the year as a whole. Yes, 2019 was a very good year overall for the BDC sector, but there’s more than that to consider, and we do.
We are back with the common stocks market recap just as the BDC sector ends November on a high note. Is BDC market enthusiasm justified by the recent fundamentals ?
Publicly traded Fusion Connect files for Chapter 11 after acquisitions go wrong. We discuss the impact on the two BDCs involved in the financing and what’s been happening to other bankrupt BDC portfolio companies.
A quick update to an earlier Stock Watch of Garrison Capital, as the dividend cutting BDC reaches a new low.
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.