The BDC Reporter updates – now all the results are in hand – its previously published IIIQ 2019 preview of THL Credit’s performance, with a focus on what’s happening – and what not – to the BDC’s numerous under-performing investments.
BDC sector prices break a 2019 record on the way up. We wonder, though, where’s the usual enthusiasm associated with stock rallies, which is not showing up in much of the data. What’s more, how do high prices mesh with growing credit concerns at borrowers ?
The external manager of THL Credit (TCRD) is being acquired. The BDC Reporter reviews the details of the acquisition and analyzes the likely impact on the BDC and its shareholders, who have had a tough time of late.
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 ?
First week of BDC earnings season and the sector moved up in price, but so did the broader indices. We review our regular metrics and several BDC winners and losers from a price standpoint and identify who might move markets in the weeks ahead.
The BDC Reporter discusses 2 key issues to look out for when THL Credit reports third quarter results.
The BDC sector followed the major indices down. And then up again. However, the second week of BDC earnings season was not an unalloyed success and future market direction is in question.
THL Credit joins the swollen ranks of BDCs who’ve adopted the new higher leverage limit while also becoming one of a much smaller group of BDCs to cut contractual compensation costs. Both developments require analysis and commentary.
We annotate THL Credit’s IQ 2019 Conference Call transcript, with analysis and commentary.
Here are some of the latest developments amongst under-performing BDC companies since our last report filed April 22, 2019
THL Credit makes a change in its dividend and compensation. The latter could have reverberations across the BDC sector.
A market melt-down is bringing more BDC stocks to 52 week lows. We name names and – on the fly – discuss risk and opportunity in a fast changing price environment.
THL Credit sets a date for the expected redemption of one of its Baby Bonds following a new issue just a few days ago. What’s the price next time ?
THL Credit refinances an existing Baby Bond with another Baby Bond. We discuss short and longer term implications for shareholders and existing debt holders.
BDC Fixed Income moved up modestly in quiet week. However, changes are underway in how some BDC debt is rated which could have major implications.
