The second week of BDC earnings season did not go as well as the first week. Several BDCs reported disturbing developments worth looking into, which we do.
Nine BDCs have reported earnings through the close on August 2, 2018. We’ve got the highlights, the lowlights and an early idea of where the BDC sector is headed.
A quiet week, both in terms of price changes and news developments, in BDC Fixed Income. Looking around the corner, we speculate as to whether the universe of publicly traded unsecured BDC debt gets bigger or smaller.
On the cusp of the most interesting Earnings Season in years, BDC stocks remained in a narrow range. We look forward to the debate about extra leverage but also beyond…
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.
BDC Fixed Income dips in a week with monumental rules changes. We take a look and speculate about what the future might hold.
Another quiet week of BDC Fixed Income prices. However, legislation percolating in Congress could change everything.
The BDC Fixed Income segment is battered and bruised – but still standing. We discuss the phenomenon and answer the question: For how much longer ?
Catching up on the flood of BDC news, we focus on 4 stories. More on the hook-up of two financial giants; two dividend announcements from BDCs going through business transitions and those continuing outsized insider purchases at one of the industry’s biggest players.
Busy BDC News Day with Medley Capital’s full year earnings at the forefront. We preview our MCC view and that of National Securities then discuss two expected dividend announcements ; a resetting CLO and a heap of insider share purchases and more besides. We also update our Premium readers on why we bought two Baby Bond issues, and updated the Fixed Income Table.
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.