NCDL: The Data Is Too Good To Maintain Hold (Rating Upgrade)

II CHIA 083 100 p 198 188 i I P III # # HOBEL 1984 1 000 1 I I I H . Hiroshi Watanabe My previous article on Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was issued in May 2024 with a title - NCDL: Too Many Uncertainties To Go Long. The key takeaway from the analysis was that NCDL has a decent portfolio structure and the right types of assets on the balance sheet to generate sustainable income streams. Yet, at the same time, there were issues with the abnormal leverage and spread compression, which int ...