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Saratoga Investment: Earnings Results UPDATED

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Yesterday, the BDC News O The Day provided an advance preview of the key issues facing Saratoga Investment in advance of its earnings release. Now the numbers are out and the BDC Reporter has updated our article with what we’ve found out and why the stock price might be dropping.

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Golub Capital: Middle Market Borrower Trends

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Golub Capital and Edward Altman publish their quarterly Index of middle market sales and “earnings”. We note the key data points and claims by the Index publishers and analyze the methodology to determine what this does – or does not – tell BDC investors.

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TICC Capital: Shareholder Vote Results

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On July 6 2017 TICC Capital held its annual Shareholders Meeting at which three issues were put to a vote. On July 7, 2017 TICC reported the results, which we discuss below. We were surprised by one outcome relating to the issue of selling stock below NAV. The BDC Reporter gives its view as to one course of action the Investment Advisor might take which some shareholders would not approve of and might mightily move the stock price:

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Golub Capital: Portfolio Update

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Golub Capital announces preliminary investment activity and portfolio size for the IIQ of 2017. BDC News Of The Day analyzes the numbers and finds only one surprise in the metrics. Nonetheless, the BDC Reporter is putting GBDC on one of our Watch Lists…

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Fifth Street Asset Management: Sale Of Subsidiary

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Fifth Street Asset Management has made a sale, but not the one the market is waiting for. We provide the details, then analyze the asset manager’s financial condition and give our view as to why FSAM has to close a deal with Oaktree. We speculate about how and why that may not happen, and the risks involved for the shareholders of 3 public companies.

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Alcentra Capital: Analyst Upgrade

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An analyst has issued a new stock rating for Alcentra Capital. BDC News Of The Day provides the key details; analyzes the BDC’s valuation and offers up our own view of whether to Sell, Buy or Hold for our own account.

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BDC Reporter: June 2017 In Review And An Update

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We highlight some of the top stories that occurred in the BDC sector and on the pages of the BDC Reporter in the month of June for readers who like a useful summary. We also disclose our own investment choices and discuss the changes at the BDC Reporter in the past 3 weeks.

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New Mountain Finance: Issues Additional Debt

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New Mountain Finance raises new unsecured debt at a record low interest rate. The BDC News Of The Day provides all the key details and analysis of the impact on the balance sheet and earnings. BDC Reporter, though, questions if there was another approach available to the BDC and the Board.

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