The BDC Reporter is interviewed about the recent earnings season and what that might tell us about the future performance of the sector if a recession comes along.
First Eagle Alternative Credit had a so-so IQ 2022. This raised – once again – questions as to the future of this smaller BDC with a troubled past which has been working feverishly to set matters right.
The BDC Reporter has just updated the BDC Fixed Income Table with the departure of two public issues. We analyze how BDC public Baby Bonds have performed in 2022 to date and take a stab at what the rest of th year might bring.
As summer 2022 officially gets going, the BDC Reporter has a sector wide look at how well the BDC sector is doing where distributions to shareholders are concerned. We offer up our proprietary data aggregation and much in the way of individual BDC color.
We annotate Crescent Capital’s IQ 2022 earnings conference call, both with an eye on recent performance and the outlook for the BDC should we have a recession before long.
Capital Southwest reports its IQ 2022 and fiscal full year results, closing out BDC earnings season. With a potential recession on everyone’s mind, the BDC’s performance was encouraging.
Apollo Investment has reported calendar first quarter and fiscal full year results and there’s a good deal to unpack. The BDC is making some important strategic moves that could drastically change its future narrative.
The BDC Reporter annotates the IQ 2022 conference call of the fast growing venture debt lender Horizon Technology Finance. Recent performance has been laudable but – with a recession in the offing – the BDC faces a number of challenges which could make for a bumpy ride.
With BDC earnings season almost over, we’ve switched back to analyzing BDC credit performance as part of the BDC Reporter’s Credit Table. We take a look at BlackRock TCP Capital.
Logan Ridge Finance has restructured its financing to repay its public notes which are close to maturity. We discuss how the BDC’s note and common stock holders have fared, and what’s the outlook going forward.
Goldman Sachs BDC posts a relatively straightforward – almost dull – IQ 2022 performance. We also discuss the outlook for the rest of 2022 in light of changing rate and economic conditions.
We review Carlyle Secured Lending’s first quarter with a new name and changing management team. We focus in on credit; future earnings and what might be happening in the C-suite.
Bloomberg has unexpected news about distressed credit conditions. We offer up some BDC-related perspective.
Here are the key findings from the BDC Reporter’s review of Gladstone Capital’s latest conference call. All is good from an earnings and dividend standpoint – and could get better. Management, though, touches on what might go wrong…
We update BlackRock Capital’s credit status as of the IQ 2022 and find much has improved in recent years.
The BDC Reporter summarizes the key findings in BlackRock Capital’s IQ 2022 conference call, as well as in the earnings release and 10-Q. Could earnings hurtle forward and exceed the dividend in a few quarters ?
To accompany the BDC Credit Table, the BDC Reporter is adding analysis and commentary about each BDC’s latest credit picture as quarterly results come in. We start with Ares Capital and Oxford Square.
Capital Southwest announces a regular and a special distribution for the second quarter and provides an opportunity for the BDC Reporter to discuss the complexities of estimating BDC distributions.
Now Ares Capital has reported IQ 2022 results, the BDC Reporter reviews the highlights against our earlier assumptions and find few surprises. Except that (8%) drop in the stock price in the hours following the release…
BlackRock Capital is raising new unsecured notes with unusual terms at just the wrong time in order to repay its large convertible debt due in June. We discuss the new financing and its implications for the BDC’s portfolio growth; cost of capital and earnings coverage of its dividend.
