At the end of last week, Prospect Capital announced in a regulatory filing an important switch in accounting firms.
There are several material credit developments of note this week, both negative and positive. However – as we explain – the BDC credit outlook remains “normal”.
Saratoga Investment – as always – will be kicking off the BDC earnings season. Here’s what to expect across a range of metrics.
In its less than two years as a public BDC Cion Investment has had an above-average level of credit losses. That makes assessing its longer term outlook problematic.
After weeks with no bankruptcies of BDC-financed companies we identified two new names and some other important credit developments.
Continuing a series, the BDC Reporter peers into the crystal ball for Capital Southwest – a leading lower middle market-focused BDC.
The BDC Reporter tackles a difficult and sensitive subject where Prospect Capital is concerned: the viability of its portfolio investment valuations.
Another week where the broader U.S. bankruptcy data was not reflected in the credit performance of the BDC sector – an encouraging phenomenon for BDC investors.
Combining the resources of the BDC Reporter, Credit Reporter and Best Ideas we provide our outlook for Crescent Capital BDC for years to come.
Trinity Capital announces yet another distribution increase. We review the outlook for future payouts and the BDC’s most recent valuation metrics.
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.
CION Investment has renewed its share repurchase program. We use the opportunity to ask if the BDC’s buyback program makes any difference to its shareholders.
We use the opportunity of PennantPark Floating Rate’s latest dividend announcement to discuss the cBDC’s recent performance and possible outlook at a time when its stock is out of favor.
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.
A portfolio company of Prospect Capital is in serious trouble. The BDC faces a significant loss of both value and income.
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.
Blackstone Secured Lending is a very big BDC so it’s appropriate that the BDC Reporter has undertaken a very long annotation of the most recent earnings conference call in an effort to review the BDC’s performance and outlook.
In an 8-K TriplePoint Venture Growth reveals details of a long anticipated loan repayment.
An investment banker gives a thumb’s up to a newer venture-debt BDC. We use the opportunity to review the metrics and discuss what could yet come to pass.
