A somewhat strange week with the BDC sector overall up in price but its components suggesting weakness. We review the data and look forward to earnings season which might clarify matters.
We re-publishing an article from the BDC Credit Reporter about developments at an under-performing logistics company whose debt is held by 6 public BDCs from our coverage universe.
For a third week in a row, BDC sector prices are up but still greatly lags behind the broader markets. We take a snapshot of where we stand as the third quarter of 2024 comes to a close.
There have been some ominous warnings made about the outlook for private credit of late, two of which are quoted here. We have a dispassionate look and discuss how BDC investors might fare.
As the major indices went from strength to strength, BDC metrics were more diffident. This seems reasonable enough as the Fed’s rate cuts have launched a new phase for BDCs that should significantly change what we’ve been accustomed to since the end of 2021.
Shortly after BackRock TCP reached a new 52 week price low – about which we wrote an article – a major shake-up of senior personnel has been announced, leading us to put pen to paper again.
Up and down BDC prices go. This week, the BDC sector followed the broader markets up. We review which BDCs were most affected and muse about what the future might bring as we hurtle forward into 2024.
The major indices had a dreadful week price-wise but the BDC sector didn’t fare as badly. Still, the sector remains well off its high and capable of heading in any direction right now.
We continue to deep dive into BDC credit performance and turn now to OFS Capital – a BDC much out of favor with investors right now.
The main market indices have left a tough beginning to August behind them. Not so the BDC sector. We review the latest metrics and then engage in a long discussion about changing BDC credit performance of late.
Something unusual happened on Prospect Capital’s latest earnings conference call: some very bad tempered responses by the CEO to an analyst’s questions, adding to the controversy that swirls around this BDC.
The major indices have recovered from the recent global panic. The BDC sector, though, has not. The metrics are better than they were but remain well off the highs of earlier this summer.
For the third time of late, the BDC Reporter takes a deep-dive into the credit performance of a BDC: relative public newbie Runway Growth Finance.
We take a deep breath and evaluate where the BDC sector stands after a tumultuous couple of weeks. We also review which BDCs have managed to thrive and which have not in 2024, after 33 weeks.
The BDC Reporter tackles the thorny subject of BlackRock TCP’s weak performance over the last two and a half years and whether more of the same is in the cards in the years ahead.
BDC investors suffered through a second difficult week in the markets, faring worse than the major indices. The sector is now in “correction” territory. We assess the damage to date and evaluate what might lie ahead.
This was a week to forget for stock investors around the world and the BDC sector was not spared – enduring its worst price performance since 2023. We assess the damage and discuss the way forward.
Oaktree Specialty Lending is the second BDC this earnings season to post sub-par results. We discuss the extent of the damage and what MIGHT be coming next.
Days away from earnings season, BDC prices moved in a mostly favorable direction, notwithstanding the drama going on elsewhere in the markets. We also discuss what might be expected from the first 8 BDCs to report.
As we anticipated in our prior Recap, BDC prices fell sharply this week. Is that the death knell of the nearly two-year long BDC rally we hear or just another head fake by a jittery market?
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