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.
Oxford Square is paying down more of one of its Baby Bonds. We review the details and what remains.
We discuss PennantPark Investment’s first monthly dividend and segue into a broader review of the past, present and future payouts of the BDC, which is recovering after years in the figurative wilderness.
Ares Capital has announced the date for its IIIQ 2023 earnings release. We have summarized expectations for the key metrics the BDC will report.
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”.
The major indices are going one way and BDC prices another. We review this unusual phenomenon and its likely cause and what might come next.
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.
A poor week for the major indices but only a modest decline for the BDC sector – not spooked by the Fed meeting.
Continuing a series, the BDC Reporter peers into the crystal ball for Capital Southwest – a leading lower middle market-focused BDC.