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Credit

TD

Canadian banks are expected to report their first quarter earnings soon, with a focus on the impact of tariff concerns on growth and credit outlooks. Despite a 2.1% decline in Canadian bank stocks since tariff threats, analysts at Bank of America maintain a positive investment outlook.

Portfolio Pulse from

February 21, 2025 | 5:00 pm

GAIN

The article discusses GAINI, a 7.875% baby bond from Gladstone Investment Corporation, which is considered undervalued compared to other BDC bonds. It offers a high yield of 7.64% and low expected volatility, despite GAIN's adjusted credit score of 8.21 (Baa1) due to its smaller market cap and high problem loans.

Portfolio Pulse from

February 21, 2025 | 2:45 pm

RIG

Transocean's high-spec fleet and long-term contracts position it to outperform peers despite the cyclical downturn in offshore drilling. The company is focusing on cost-cutting to improve free cash flow and financial stability, aiming to enhance profitability and accelerate debt repayment.

Portfolio Pulse from

February 21, 2025 | 2:45 pm

REXR

Rexford Industrial Realty is positioned well in Southern California's industrial market, offering a 4.2% dividend yield and trading at a P/FFO of 17x. The REIT benefits from a favorable supply-demand balance, strong leasing spreads, and NOI growth, supported by a low leverage and a BBB+ rated balance sheet.

Portfolio Pulse from

February 21, 2025 | 2:30 pm

PFLT

PennantPark Floating Rate Capital Ltd. has completed a $474.6 million term debt securitization, significantly reducing its borrowing costs. The transaction is structured as a collateralized loan obligation with a four-year reinvestment period and a twelve-year final maturity.

Portfolio Pulse from

February 21, 2025 | 2:30 pm

UNIT

Uniti Group Inc. has reported its fourth quarter and full year 2024 results. The company has also completed a significant ABS financing, which offers an attractive alternative source of capital and strengthens its balance sheet.

Portfolio Pulse from

February 21, 2025 | 1:15 pm

LDOS

Leidos Holdings, Inc. announced the expiration and results of its cash tender offer for its 3.625% Senior Notes due 2025. The offer was made by its subsidiary, Leidos, Inc., and expired at 5:00 p.m.

Portfolio Pulse from

February 21, 2025 | 1:15 pm

ESGLF

EnviroGold Global Limited has successfully closed the first tranche of its private placement, raising $3.68 million. The funds will be used to settle Convertible Notes, improving the company's balance sheet and financial flexibility for future growth.

Portfolio Pulse from

February 21, 2025 | 12:15 pm

BKH

Black Hills Corporation, a Dividend King with a 55-year dividend growth streak, is trading at an 18% discount to fair value. The company has a strong balance sheet, a BBB+ credit rating, and a five-year capital spending plan of $4.7 billion. Its Q4 2024 diluted EPS grew by 17.1%, with projected annual EPS growth of 4%-6%.

Portfolio Pulse from

February 21, 2025 | 12:15 pm