Another week without a formakl bankruptcy of a BDC-financed company, but there’s bad news coming from two companies and losses from two other restructurings.
We’ve undertaken a deep dive – using both our resources and that of the BDC Credit Reporter – to analyze the credit outlook for Barings BDC. The data we’ve collected points in two different directions.
Combining both disclosures from Ares Capital and independent analysis from the BDC Credit Reporter, we undertake a top to bottom credit review of the largest BDC.
As we get closer to the end of the year, the BDC credit picture remains relatively solid. However, there are some cracks worth keeping an eye on – some of which we highlight here.
We undertake a thorough – sometimes exhausting – review of CION Investment following the BDC’s record IIIQ 2023 results.
Five different BDCs are tapping the markets for unsecured, medium term debt – each in a different way. We review the details and explain why this is important.
As BDC earnings season has marched on, so has the breadth and depth of the credit data we’ve collected. In this week’s Update, we cover a lot of ground.
In a surprise announcement, MidCap Financial has announced its intention to acquire two closed-end funds from within the Apollo universe.
Bain Capital Specialty Finance books a major – although not unexpected – realized loss in the IIIQ 2023. We discuss the impact and which other BDCs are involved in this notable credit setback.
With BDC reporting season in full swing, there were more credit developments than usual to contend with. These include multiple downgrades and new non-accruals.
Gladstone Investment had a very good calendar IIIQ 2023 on the back of a large realized gain. Here are the highlights.
Once again Main Street Capital has announced an increase in its dividend. We analyze the BDC’s recent performance in this critical category for BDC investors.
Horizon Technology’s earnings might have seemed robust in the IIIQ 2023, but there’s less there than meets the eye and credit performance took another step down.
Hercules Capital has reported its most recent dividend. We analyze the BDC’s payout performance, its sources and discuss what the future may hold.
The BDC Reporter offers up its initial analysis and thoughts on Capital Southwest’s IIIQ 2023 results
We’re re-publishing the BDC Credit Reporter’s just-published credit review of Ares Capital following the BDC’s recent publication of its IIIQ 2023 results.
Out of the blue – thanks to the sale of a portfolio company – Gladstone Investment has announced a large “special” dividend.
We compare our preview of Ares Capital’s IIIQ 2023 results against its just-announced actual performance.
A long-held portfolio company of Gladstone Investment is sold for a huge realized gain.
Another BDC-financed company is slated to file for bankruptcy protection – one of multiple credit developments occurring this week.
