We annotate Capital Southwest’s second quarter 2020 conference call transcript that covers a lot of ground: earnings, AUM, dividend, credit and – most of all – important news from the SBA.
Several public and private BDCs with over $100mn in exposure are benefiting from an upgrade to a portfolio company. We discuss the details and make an observation about what’s happening in the bankruptcy arena.
Fitch Ratings updates its view on New Mountain Finance. The BDC Reporter analyzes the rating group’s press release and offers its own – very similar – evaluation. This includes initiating our own unsecured debt rating for the BDC’s only Baby Bond.
The BDC Reporter mines the company-by-company research undertaken by the BDC Credit Reporter to undertake a IIQ 2020 Credit Review of Apollo Investment.
The BDC Reporter annotates the Apollo Investment IIQ 2020 conference call transcript after another poor quarter and a major dividend cut.
An off-the-cuff look at PennantPark Investment’s IIQ 2020 results before we learn more about its proposed new JV is spun off.
The BDC Reporter annotates the Ares Capital IIQ 2020 conference call transcript.
A TCG BDC Inc. portfolio company files for Chapter 11, which may result in material realized losses shortly. Re-published from the BDC Credit Reporter with a foreword from the BDC Reporter.
The BDC Reporter annotates Stellus Capital’s IIQ 2020 conference call transcript and finds many positive developments as well as some things to worry about.
The first BDC-financed company has filed for bankruptcy in August. The only BDC with exposure is Barings BDC.
The BDC Reporter annotates OFS Capital’s IIQ 2020 conference call transcript. We review a multitude of subjects, including the BDC’s liquidity of which there may be less than meets the eye.
The BDC Reporter annotates the BlackRock Capital IIQ 2020 conference call transcript, including debating some of the premises offered up by management after another disappointing quarter.
The BDC Reporter annotates Horizon Technology Finance’s second quarter 2020 conference call transcript, following unexpectedly stellar results.
The famous restaurant chain is the ninth BDC-financed company to file for bankruptcy in July and there are multiple BDCs involved in both the first and second lien debt. Re-published from the BDC Credit Reporter.
After disappointing second quarter 2020 results, the BDC Reporter annotates the Gladstone Investment conference call transcript.
The BDC Reporter listened to the Gladstone Investment Conference Call and what was said about the BDC’s dividend which some investors fear may be cut as recurring earnings dropped sharply.
From the BDC News Feed: A first look at Gladstone Investment’s underwhelming results for the quarter ended June 2020.
Oxford Square Capital kicks off second quarter 2020 BDC conference calls with a close to the vest presentation of results that seemed pretty good considering the circumstances. The BDC Reporter annotates the conference call transcript.
We preview Oxford Square Capital’s IIQ 2020 credit status by use of the BDC Credit Reporter’s database of underperforming portfolio companies. We also publish the database itself for readers to delve into as they see fit.
A famous milk producer is being acquired out of bankruptcy by a group that includes two existing BDC lenders: FS KKR Capital and FS KKR Capital II. We explain why this is important for the BDCs shareholders involved and for BDC investors generally.
