The BDC rally hit an unexpected pothole this week, putting any further price expansion on hold. In terms of news, there was little to report except a setback for a long standing BDC lobbying campaign, but there’s hope yet.
MVC Capital reports fiscal fourth quarter and full year results through October 2019. We review the earnings press release, investor presentation and 10-K to summarize the latest performance.
MVC Capital surprises the BDC Reporter and increases its regular distribution before we expected. We review the details and discuss the pay-out increase in the context of MVC’s stock price and Baby Bond borrowings.
The BDC sector moved upward on the week, following the major indices renewed optimism. The BDC Reporter, though, shares its concerns about what might happen in the remainder of 2019 and into 2020.
We share highlights from the BDC Credit Reporter’s compilation for the week of developments amongst under-performing portfolio companies, naming the BDCs and the amounts involved.
MVC Capital has reported quarterly results ended January 2019. The BDC Reporter points out and dissects the most important items in the 10-Q and offers our ratings for the BDC’s debt and equity.
MVC Capital begins a pre-announced automatic share buy-back program. However, two shareholders will be missing: an MVC Director and the BDC Reporter. We explain the whys and wherefores.
In one of the BDC Reporter’s periodic articles for all readers, we review the latest Proxy from MVC Capital and discuss the state of corporate governance prior to an October shareholder vote on two items.
A mixed week in the BDC sector but the trend is still to the upside. The BDC Reporter also discusses the monumental changes underway amongst the bigger BDCs and what that might mean for the future.
The BDC sector has a very good week almost across the board, despite few developments as investors jockey for position before earnings season. We discuss at length one factor that could prolong the rally and briefly (teasingly ?) mention another.
The BDC mini rally hangs in there for another week. We discuss who was up and who was down and the lessons learned. Plus, we provide our best guess as to the short term outlook.