May
07
Middle Market: Investors Eye BDC Portfolios For Signs Of More Pain From Energy Sector
ByOn the eve of first-quarter earnings, BDC investors are anxious to see whether the energy sector will inflict more pain on loan portfolios.
An analysis of the portfolios of 45 BDCs tracked by LCD shows that 31 energy-related companies with outstanding debt were in distressed territory at the end of 2014, in this case valued at 80 or less, which is a widely used definition of distressed debt. Of these, the average weighted fair value at year-end was 64 cents on the dollar, an analysis by S&P Capital IQ’s Leveraged Commentary and Data (LCD) showed…
Middle Market: Investors Eye BDC Portfolios For Signs Of More Pain From Energy Sector
