The BDC Reporter has several breaking BDC-related news stories to discuss in our daily summary, plus two important credit developments.
Stellus Capital is switching its dividend frequency again. We review why the BDC is switching back to a monthly payout and what that tells us about the outlook for future dividends.
We share an article from the BDC Credit reporter about a Stellus Capital portfolio company that has filed Chapter 11.
In a follow-up article, we fill in the details about the Stellus Capital unsecured debt raise. The BDC Reporter, though, also shares its thoughts on the BDC’s increasing leverage levels.
For Stellus Capital Investment the IIIQ 2020 was not very different than the prior quarter.
We annotate Stellus Capital’s conference call transcript after a relatively positive second quarter. However, liquidity remains constrained and investors appear undecided as to what to believe.
The BDC Reporter annotates Stellus Capital’s IIQ 2020 conference call transcript and finds many positive developments as well as some things to worry about.
Stellus Capital provides some early disclosure about its non performing loans. The BDC Reporter adds some numbers to the mix and places these credit hotspots in context. We also mention what other companies are on our watchlist.
The BDC Reporter has been evaluating every public BDC’s liquidity position since the beginning of the crisis. Stellus Capital has just announced changes in its banking arrangements that should be beneficial. We discuss the details and SCM’s overall liquidity status.
BDC Fixed Income prices seemed to be headed in one direction just a fortnight ago, but now are moving in unexpected ways. We discuss both sector trends and the path of individual issues and what the future might hold, which is likely to be very different from the past.
With BDC earnings season around the corner, the sector’s prices stabilized but individual BDCs remained highly volatile both up and down. The BDC Reporter discusses the upcoming earnings and portfolio releases and their importance in the short and longer term in what looks like a critical year in the history of the sector.