We can now report how many companies in the Ares Capital portfolio are on non-accrual. When added to the data already purloined from the BDC’s latest 10-Q, the credit picture is very clear.
Ares Capital has just completed an expensive unsecured note offering. The BDC Reporter dares to ask why now?
The new week begins with the Chapter 11 bankruptcy of a Ares Capital portfolio company and may cause a record loss for 2023-to-date.
Re-published from the BDC Credit Reporter is a IQ 2023 credit review for the largest BDC out there – Ares Capital. The data and commentary are almost completely drawn from the BDC itself and is part of a series Credit Reporter is undertaking.
There were no new bankruptcies of public BDC-financed companies this week, but there were two new non-accruals and a well-known business reaching the brink of failure. We also had a first look at Ares Capital’s IQ 2023 credit results.
We annotate Ares Capital’s IIQ 2022 earnings conference call with analysis and commentary.
To accompany the BDC Credit Table, the BDC Reporter is adding analysis and commentary about each BDC’s latest credit picture as quarterly results come in. We start with Ares Capital and Oxford Square.