Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Last week, the Federal Reserve Bank of Boston published research on the condition of business development companies (“BDC”). The authors expressed concern over the growing use by borrowers of payment-in-kind provisions. The Rabid Capitalist’s BDC portfolio (ARCC, CCAP, CSWC, FSK, MAIN, OBDC and OCSL) is exhibiting superior performance in terms of both payments-in-kind and nonaccrual designation in their loan portfolios.
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