Streetbeat News

Credit Ratings

PFX

PhenixFIN Corporation, a smaller BDC, offers an attractive investment opportunity with its PFXNZ bond, which has a yield to maturity of 7.96% and trades below par value. The company is internally managed and has a diversified portfolio, with a decent credit rating equivalent to Baa2.

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February 24, 2025 | 12:30 pm

EYEN

Eyenovia, Inc. has announced a debt restructuring plan that includes an amendment to its senior secured debt. This amendment defers all interest and principal redemption payments until September 2025, providing the company with financial flexibility and reducing near-term cash needs. This move is aimed at improving the company's cash runway to evaluate strategic alternatives.

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February 24, 2025 | 12:15 pm

HYG

LQD

The article compares two ETFs, HYG and LQD, highlighting that HYG offers excess returns with lower duration but comes with a minor increase in credit risk compared to LQD.

Portfolio Pulse from

February 24, 2025 | 12:45 am

DTE

DTE Energy has outperformed the S&P 500 and increased its five-year capital spending plan by 20%. The company holds a BBB credit rating from S&P with a stable outlook.

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February 22, 2025 | 12:15 pm

WHF

WhiteHorse Finance, Inc. offers attractive risk-adjusted returns through senior secured loans to lower middle market companies. Its baby bond, WHFCL, is trading above par with a yield to call of 7.08% and a yield to maturity of 7.92%. WHF has a Baa2 credit score, indicating solid asset quality and profitability.

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February 22, 2025 | 8:30 am

SHO

Sunstone Hotel Investors Inc. (SHO) offers preferred stocks with a 7.3% yield, which is more attractive than the common stock's expected 8% FFO yield. The company's strong financials, including a 400% asset coverage ratio and no secured debt, make it a relatively safe investment. The narrowing spread to the 20-year Treasury suggests potential for higher credit ratings.

Portfolio Pulse from

February 21, 2025 | 10:45 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.

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February 21, 2025 | 2:45 pm

NSANY

Moody's has downgraded Nissan Motor's credit rating to junk status, citing a weak and worsening credit profile outlook.

Portfolio Pulse from

February 21, 2025 | 5:30 am

LC

LendingClub reported strong Q4 2024 earnings, but its guidance fell short of expectations, leading to a stock sell-off. The company received an investment grade rating on its senior note, allowing sales to insurance companies, which could improve loan sale pricing.

Portfolio Pulse from

February 20, 2025 | 3:30 pm

CG

Investors are shifting focus to investment-grade long-duration issues offering 7% yields. Carlyle Group, with an A- credit rating, has solid investment-grade debt and a history of consistent dividend payments. Its baby bond, CGABL, offers a higher yield compared to similar credit quality bonds.

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February 20, 2025 | 2:45 pm