bdcreporter
Premium FreeBDC CREDIT REPORTER: We've just updated the Avanti Communications story, which has seen $130mn invested in the satellite operator by two public BDCs- $GECC & $TCPC written down by 99%, and all debt outstanding placed on non accrual. Not a pretty sight. bit.ly/39ba8TK
BDC CREDIT REPORTER ADDS: We checked Advantage Data's records and found no BDC exposure to Armstrong Flooring. That's good but we worry that a company whose markets were moving in a favorable direction should have filed Chapter 11. twitter.com/business/statu…
BDC CREDIT REPORTER NOTES: Fascinating backward looking data on default rate in larger loan group. This must be the bottom of this credit cycle and future months will surely show an uptick. Very unclear, though, is whether any flood of new non accruals is on its way. twitter.com/lcdnews/status…
BDC REPORTER ARTICLE: We've taken a deep dive into BlackRock Capital's $BKCC $0.5bn, 93 company portfolio & found great improvements from a credit standpoint, reflecting management's success in "repositioning". Could prove valuable if we have a recession..bit.ly/3LIlTPY
BDC CREDIT NEWS: WhiteHorse Finance $WHF has provided preliminary IQ 2022 results and mentioned a loss taken on long troubled Puerto Rican hospital chain Grupo Hima San Pablo, also held by 3 other BDCs. The BDC Credit Reporter has the details bit.ly/3F7GJpD
BDC NEWS: Intriguingly, we learned from $OXSQ's very brief IQ 2022 conference call that interest rates in the CLO market are already above the low "floors" set for the borrowers in those vehicles. See the Q&A. bit.ly/38yAy1n
BDC CREDIT NEWS: Uh oh. A leading paper company is facing financial difficulties and has already received a forbearance after missing an interest payment. Now second lien lenders - which include 3 BDCs - are seeking a sale of the company. See bit.ly/BDCCreditRepor…
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