NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB to Bain Capital Specialty Finance, Inc.'s ("BCSF" or "the company†) $350 million, 5.95% senior unsecured notes due 2031. The rating Outlook is Stable. The proceeds will be used for general corporate purposes and for repayment of existing secured indebtedness. Key Credit Considerations The rating and Stable Outlook is supported by BCSF's ties to the ~$60 billion Bain Capital Credit ("BCC") credit platform, including ~$20 billion ...

BOSTON--(BUSINESS WIRE)--Bain Capital Specialty Finance, Inc. (NYSE: BCSF or the "Company†) announced that it has priced an offering of $350 million aggregate principal amount of 5.950% senior notes due 2031 (the "Notes†). The Notes will mature on March 1, 2031 and may be redeemed in whole or in part at the Company's option at any time at par plus a "make-whole†premium, provided that the Notes may be redeemed at par one month prior to their maturity. The offering is expected to close on or abo. ...

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Core Viewpoint - Bain Capital Specialty Finance, Inc. has declared a special dividend of $0.15 per share, aimed at managing tax and RIC distribution requirements [1] Group 1: Dividend Announcement - The special dividend will be paid on January 26, 2026, to stockholders of record as of December 31, 2025 [1] - The decision to declare a special dividend reflects the company's commitment to returning value to shareholders [1]

Upgrades - Keefe Bruyette upgraded Bain Capital Specialty Finance (BCSF) to Outperform from Market Perform with an unchanged price target of $16, citing attractive entry point for shares [2] - JPMorgan upgraded Paccar (PCAR) to Overweight from Neutral with a price target of $133, increased from $108, due to offsetting tariff-related headwinds following the latest Section 232 proclamation [3] - Wells Fargo upgraded Generac (GNRC) to Overweight from Equal Weight with a price target of $195, up from $186, highlighting a "near-free call option" on data center growth after recent share pullback [4] - Barclays upgraded Cummins (CMI) to Overweight from Equal Weight with a price target of $546, increased from $515, reflecting new emissions rules and reduced R&D expenses [5] - Citizens upgraded Stryker (SYK) to Outperform from Market Perform with a price target of $440, citing reasonable valuation at current share levels [5] Downgrades - Wedbush downgraded Lyft (LYFT) to Underperform from Neutral with a price target of $16, down from $20, due to risks from autonomous vehicle disruption in the U.S. ridesharing market [6] - JPMorgan downgraded Lockheed Martin (LMT) to Neutral from Overweight with a price target of $515, up from $465, based on out-year cash flow estimates being below consensus [6] - Raymond James downgraded Allegiant Travel (ALGT) to Outperform from Strong Buy with a price target of $98, up from $78, citing valuation concerns after recent share strength [6] - Deutsche Bank downgraded Elevance Health (ELV) to Hold from Buy with a price target of $320, down from $332, due to reduced estimates and challenging macro environment [6] - Williams Trading downgraded Birkenstock (BIRK) to Hold from Buy with a price target of $51, down from $75, following earnings report and lack of clarity from management [6]

Core Viewpoint - The equity market serves as a significant mechanism for wealth creation or destruction over the long term, with Pacifica Yield focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1] Group 1 - Pacifica Yield aims to pursue long-term wealth creation [1] - The strategy includes a focus on undervalued yet high-growth companies [1] - High-dividend tickers, REITs, and green energy firms are also key areas of interest [1]

Core Insights - The equity market serves as a significant mechanism for wealth creation or destruction over the long term through daily price fluctuations [1] Group 1: Investment Focus - Pacifica Yield aims to create long-term wealth by focusing on undervalued yet high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

Core Insights - The article emphasizes the importance of enabling Javascript and cookies in browsers to prevent access issues [1] Group 1 - The article suggests that users may face blocks if they have ad-blockers enabled, indicating a need to disable them for proper access [1]

Core Insights - The company reported solid financial results for Q3, with net investment income per share at $0.45, an annualized yield on book value of 10.3%, and earnings per share at $0.29, reflecting a 6.6% annualized return on book value [1][22][24] - The net asset value (NAV) per share decreased to $17.40, down $0.16 from the previous quarter [1][24] - The company declared a fourth-quarter dividend of $0.42 per share, with total dividends for Q4 amounting to $0.45 per share, maintaining a 10.3% annualized rate on ending book value [5][12] Financial Performance - Total investment income for Q3 was $67.2 million, down from $71 million in the previous quarter, primarily due to lower activity levels [22] - Net investment income for the quarter was $29.2 million, or $0.45 per share, compared to $30.6 million, or $0.47 per share, in the prior quarter [22][24] - The company experienced net realized and unrealized losses of $10.5 million, mainly from one portfolio investment [24] Investment Activity - New investment fundings in Q3 totaled $340 million across 101 portfolio companies, with $124 million in 14 new companies and $210 million in 86 existing companies [15][18] - The majority of new investments (89%) were in first lien senior secured loans, with a weighted average spread of approximately 550 basis points [15][17] - The investment portfolio at fair value was approximately $2.5 billion, diversified across 195 companies in 31 industries [18][19] Credit Quality - Credit fundamentals remain healthy, with investments on non-accrual representing 1.5% at amortized cost and 0.7% at fair value as of September 30 [11][21] - Median net leverage across borrowers was 4.7 times, down from 4.9 times in the previous quarter, with median EBITDA stable at $46 million [20][21] Market Environment - New deal activity increased in the middle market due to clarity on tariffs and stable economic indicators, despite elevated inflation and unemployment [6] - The company maintains a disciplined approach to terms and structure, focusing on the core middle market, which is viewed as having attractive characteristics [7][8] Future Outlook - The company has several levers to potentially offset headwinds from a lower interest rate environment, including higher earnings from joint ventures and increased prepayment-related income [13][14] - The current stock price valuation offers a compelling relative value, with a dividend yield of 13% annualized, which is attractive for investors [14]

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