As we absorb more credit performance data from the IVQ 2022 and keep-up-to-date with the latest trouble spots, an ever clearer picture is emerging.
The major indices went one way this week, while the BDC sector went another. We discuss the reasons why and whether this will continue.
The external manager of Horizon Technology Finance is getting acquired by a larger group. We review the details and see how the BDC’s shareholders will fare. Spoiler Alert: Keep your expectations low.
Main Street Capital announces an increased distribution payout for the IIQ 2023 than in the prior period. Leaning on our sister publication BDC Best Ideas we consider whether that is as good as it gets, or not ?
Another week of the comprehensive BDC News Feed begins.Tuesday includes MidCap Financial’s results, a medley of dividends from Fidus Investment and multiple troubled portfolio companies at Golub Capital. And we’ve just begun…
In Week 7, the BDC Reporter not only provides a weekly recap of current credit developments but seeks to place the numbers in a broader context.
The S&P and the BDC sector went in different directions in Week 7 of 2023 and as BDC earnings season marched on.
We assess the likely realized losses to be booked by two BDCs in the wake of a debt-to-equity restructuring of an engineering company.
Another installment of the BDC Daily News: all the developments affecting the sector in Week Three of Earnings Season.
Not satisfied with just gathering data for the BDC NAV Change Table, the BDC Reporter suggests what lessons investors might learn from 5 years of data i n one place.
The credit picture for leveraged finance companies continues to darken and many BDC-financed businesses are involved. We review the details and draw out the broader trends involved from the data we’ve collected on hundreds of underperforming companies.
The irresistible increase in BDC sector prices came to an end this week. Whether this is just a pause that refreshes or the beginning of a downturn may depend on the changing credit picture.
PennantPark Investment’s NAV Per Share dropped a shocking (14%) in the IVQ 2022. We annotate the conference call and discuss why that happened and what the outlook is for this long-standing BDC.
We bring back the BDC Daily News Feed – a compendium of everything happening in the BDC sector, annotated in almost-real time. We’re keeping very busy and so will our readers.
In Week 5 of 2023, BDC credit conditions remained stable but there were plenty of bankruptcies of non-BDC financed companies.
Everything is in rally mode, including the BDC sector. Admittedly, this week the metrics were a little weaker, as we’ll discuss.
We begin a series updating the BDC Credit Table as IVQ 2022 data rolls in as part of BDC earnings season. First BDCs to report: Saratoga investment and Capital Southwest.
It was a very good year for Fidus Investment. Now the BDC has decided how to pay out its earnings and shareholders will need to pay attention.
BDC-financed companies faced few credit challenges in the first three weeks of 2023 but in Week 4 conditions sharply deteriorated.
Another very good week where BDC prices are concerned, as the rally rolls on. Will a sudden increase in credit troubles cause investors to re-think or do the good times continue to roll ?