With Ares Capital’s IIIQ 2023 results there have been a number of credit developments to contend with, as well as some other news.
The BDC rally is well and truly over as all the major markets continue their slide. We quantify the damage to date and assess where the sector stands.
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.
The major stock market indices – and BDC common stock prices – were disturbed by higher bond yields and news of a strong economy. With BDC earnings season on our doorstep, what is the likely way forward?
A BDC-financed company will shortly file for bankruptcy. We place this credit setback in perspective for 2023 and within the context of the broader markets.
Golub Capital follows Main Capital in posting select preliminary results for the IIIQ 2023. The numbers suggest an encouraging performance.
Main Street reveals some key metrics for the IIIQ 2023 but a lot more is missing which leaves the BDC Reporter to draw very few conclusions.
We don’t have many credit stories to recap this week, barring one new non-accrual and an already bankrupt business switching from Chapter 11 to Chapter 7.
BDC sector prices revived this week after a mini pullback. With the end of the year already coming into view, we discuss the bull and bear case for the rest of 2023 and beyond.
The latest report from a well regarded index of middle market companies is good news for the BDC sector.
Main Street offers up new investment activity data for the IIIQ 2023 for one of its business segments. This serves as a potential indicator of how busy MAIN – and other BDCs – might have been in the period. Here’s what we learned…
We compare Saratoga’s just announced IIIQ 2023 results against the BDC Reporter’s previously published preview.
There was a new BDC-financed company bankruptcy this week, but also two businesses exiting from court protection. With more than three-quartets of 2023 done, BDC credit performance does not seem unusual.
This was a “historic” week for bonds and volatile for BDC common stocks, with the sector materially down in price. As we explain, though, the six month long BDC rally may yet have more legs.
Runway Growth Finance has disclosed highlights of its IIIQ 2023 investment activity and repayments. We discuss some of the implications of the news.
Stellus Capital has announced its IVQ 2023 distribution. The BDC is having a record year where earnings and distributions are concerned. We explain why the stock price is nonetheless 20% off its high.