With all markets in uproar – and the BDC sector down by a fifth in two days – we seek to take a fresh look at where the BDC sector stands and where we’re headed in the age of the coronavirus.
The BDC Reporter updates BDC Fixed Income prices after a week of huge – and uncharacteristic moves. We also look ahead to a week where more of the same seems to be in the cards.
The BDC Reporter sums up another remarkable week for BDC sector prices and looks forward at a time of maximum uncertainty.
The BDC Reporter annotates the just published Garrison Capital IVQ 2019 Conference Call transcript.
The BDC Reporter – using the resources of Advantage Data and its own research – analyzes BDC exposure to a segment of the oil & gas industry. Second in a series.
We re-publish an article from the BDC Credit Reporter about the bankruptcy of a BDC-financed retailer. However, our principal purpose is to bring readers attention to a trend developing in BDC investing that could have major consequences for years to come, and which could accelerate in the current environment.
In the first in a series, the BDC Reporter digs into the energy sector SIC code by SIC code to determine what current BDC exposure – in aggregate and by individual BDC – looks like at a time when there are grave doubts about the outlook. We start with SIC code 1382: Oil & Gas Explorers.
BDC Fixed Income prices have held up well during the first two weeks of the market meltdown. However, with changes in interest rate and credit conditions changing quickly, what might happen next to prices and new issuance ?
The BDC Reporter reviews a strange week in the markets as investors switched from rampant optimism back to white knuckled fear. We also offer up our candid view of what might happen next, and our surprise as to how the markets have behaved to date.
Bain Capital Specialty Finance’s IVQ 2019 results were MIXED overall. We also update how the stock price fared from the earnings release through March 6, 2020.
The BDC Reporter updates the IVQ 2019 summary results for Ares Capital with the latest stock price movements since earnings were released.
We have updated the Apollo Investment IVQ 2019 results summary which we first published on February 17, with a brief review of what has happened to the stock price and to the valuation metrics through March 6, 2020.
The BDC Reporter lets all our readers know how to keep up with the ever changing BDC landscape at this time of high uncertainty.
We re-publish an article from the BDC Credit Reporter about a portfolio company of FS KKR Capital that is in the process of literally selling off its assets. We review the impact on the BDC.
We re-publish an article from the BDC Credit Reporter about one of four non performing portfolio companies Capitala Capital divested itself of in the IVQ 2019. We discuss the background of the investment and the impact on the BDC.
The BDC Reporter annotates the Capitala Finance IVQ 2019 conference call transcript, and adds an Executive Summary.
The BDC Reporter takes a break from individual BDC analysis to warn readers about how lower LIBOR could affect the entire sector’s earnings prospects, albeit to widely varying degrees.
The BDC Reporter annotates FS KKR Capital’s IVQ 2019 conference call transcript with commentary on the BDC’s business and credit developments. Also included is an Executive Summary.
The BDC Reporter’s re-publishes and adds annotations to the IVQ 2019 Fidus Investment conference call transcript, which is jam packed with information not elsewhere available.
Even the stable price world of BDC Fixed Income debt could not withstand the market drop in the week ended February 28, 2020. We review the damage to the group and to individual names and offer up thoughts as to what might happen next to both prices and to the use of fixed income debt by BDCs.