BDC prices have just reached a 2023 record. We provide the details and pose the hard questions about whether there is still enough gas in the BDC tank.
Not much to report in terms of BDC credit developments. This gives us the opportunity to argue why more bankruptcies might be a Good Thing for BDC investors.
The markets have been battening down their hatches, expecting a weak September. For the BDC sector, this first week was not too bad. We also discuss a key merger and a long anticipated filing.
Our credit scorecard for the week shows no bankruptcies of BDC-financed companies, but there was a downgrade at one company and likely very bad news at another and much else to discuss.
The BDC rally is back after a three week hiatus. We discuss how many BDCs are benefiting and how 2023 might turn out for the BDC bulls.
There were no bankruptcies of BDC-financed companies this week, but there were 3 significant corporate downgrades.
BDC sector prices moved very little in these dog days of summer and the rally remains in play. However, the BDC Reporter could not help but look into a glass darkly when reviewing what may lie ahead.
The BDC rally is on hiatus – as is the case across all the major indices. We review how far – or how little – the sector’s prices have fallen. Also, we discuss why we’re more optimistic about the long-term outlook than the analyst community.
Default and bankruptcy numbers keep getting worse yet the markets for leveraged debt are ever-improving. We explain why we think that’s the case and suggest the BDC sector’s credit performance might also cause a surprise, and why.
The BDC rally is on pause, but far from over. We review the metrics and predict where earnings and dividends are headed in the next few quarters, likely to greatly influence future prices.
We learned a great deal more about BDC credit conditions as more and more second quarter results are divulged. However, the overall credit picture is not much altered.
The major indices may have slumped this week, but the BDC sector still had price momentum and the rally goes on for almost everyone. What could possibly go wrong ?
There was one bankruptcy this week and two BDCs reported their latest portfolio valuations. We learned a great deal , and updated the BDC Credit Table with the latest data.
The BDC bull charges on for another week. Where is the BDC sector headed? We offer up one possible scenario borrowed from our sister publication – BDC Best Ideas.
There were two new bankruptcies – broadly defined – of BDC-financed portfolio companies this week and a number of other credit developments in advance of earnings season which should tell us a good deal more.
