The BDC Credit Reporter discussed the credit problems at BlackRock Capital (BKCC) after the release of its quarterly filing but before the ensuing Conference Call. After listening to the management and spending more time with the data, we make some additional comments about BKCC’s under-performing AND performing investments, and discuss the likely way forward.

The BDC Credit Reporter provides a brief update on the poor credit performance at BlackRock Capital (BKCC) in the first quarter of this year, after a similarly disappointing fourth quarter of 2016. In a very short period the investment portfolio has gone from hero to zero. We provide details and updates. More to come after the Conference Call.

The BDC Credit Reporter updates readers on the questionable state of another troubled retailer-Charlotte Russe-and details Business Development Company exposure to the company. We review recent downgrades by S&P and Moody’s and provide our own perspective on what might happen next, and the potential impact on the income and equity of the BDC lenders involved.

Our first Guest Contributor-and CEO of Saratoga Investment (SAR)-Chris Oberbeck provides useful advice to Millennials about getting started in Business Development Company investing. You can also follow Chris on his own regular blog and on Twitter.

The BDC Credit Reporter notes that there is a “depression” underway in U.S. rail freight brought on by oversupply of coal on the tracks and in storage, and with the long term trend towards ever lower volumes, the sector needs paying attention to. We add rail freight to our Sector Watch List.

The Fifth Street Senior Floating Rate(FSFR) election, where shareholders had the chance to vote in dissident Board members and even kick out the existing manager, has ended in a draw. The BDC Activist brings readers up to date, and underscores why this was a historic occasion, even if the immediate outcome remains unclear.

The BDC Credit Reporter has a look at BDC behemoth, and popular favorite, Ares Capital (ARCC) after a big Unrealized write-down in the IVQ of 2015. First signs of the Apocalypse or meaningless blip or something in between ? Management is sanguine. We are ambivalent as we show with plenty of facts and figures.