The credit trends – both in the BDC sector and amongst non-investment grade companies generally – continue to worsen. However, deciphering what to make of all this is a complex matter, which we seek to address.
The BDC rally is on hiatus – as is the case across all the major indices. We review how far – or how little – the sector’s prices have fallen. Also, we discuss why we’re more optimistic about the long-term outlook than the analyst community.
A full review of Bain Capital Specialty Finance’s IIQ 2023 performance and expectations for the future.
Saratoga announces its latest quarterly distribution, giving the BDC Reporter an opportunity to analyze the BDC’s recent payout performance and summarizing the most recent valuation metrics.
Default and bankruptcy numbers keep getting worse yet the markets for leveraged debt are ever-improving. We explain why we think that’s the case and suggest the BDC sector’s credit performance might also cause a surprise, and why.
The BDC rally is on pause, but far from over. We review the metrics and predict where earnings and dividends are headed in the next few quarters, likely to greatly influence future prices.
The BDC Reporter focuses on two items of special interest in FS-KKR Capital’s latest earnings conference call.
The major indices may have slumped this week, but the BDC sector still had price momentum and the rally goes on for almost everyone. What could possibly go wrong ?
TriplePoint Venture Growth’s stock price is getting hammered after reporting results while Horizon Technology’s is not. Both, though, face similar challenges.
We can now report how many companies in the Ares Capital portfolio are on non-accrual. When added to the data already purloined from the BDC’s latest 10-Q, the credit picture is very clear.
A Monroe-financed media company has filed for and exited bankruptcy within the space of a few months. We estimate the impact on the BDC’s income and net book value .