BlackRock TCP Capital: Weakening Earnings May Result In Distribution Cut (Rating Downgrade)

hapabapa Overview The last time I covered BlackRock TCP Capital (NASDAQ:TCPC), I issued a hold rating because I was uncertain of the portfolio strength in an elevated interest rate environment. Since my prior coverage over a quarter ago, TCPC has deteriorated in price by nearly 14% while the S&P 500 increased by 7%. If we do a quick comparison on a YTD basis, we can see that TCPC's total return has been negative 16.5%. This significantly underperforms VanEck's BDC Income ETF (BIZD). TCPC recently releas ...