Saratoga(SAR) GlobeNewswire·2025-01-08 21:05Core Insights - Saratoga Investment Corp. reported a sequential increase of 1.1% in adjusted net investment income (NII) per share, reaching 84.5 million, supporting two new platforms and eight existing portfolio companies, although this was offset by significant repayments totaling 960.1 million, down 13.8% year-over-year and 7.7% from the previous quarter [2][6] - Net asset value (NAV) increased to 359.6 million a year ago and 35.9 million, a decrease of 1.3% year-over-year and a decline of 16.6% from the previous quarter [2][7] - The company declared a quarterly dividend of 0.35, resulting in a total dividend of 84.5 million in investments during the quarter, which included two new portfolio company investments and eight follow-on investments [3][5] - Principal repayments amounted to 960.1 million, with 86.8% in first lien debt, indicating a strong focus on secured investments [2][14] - The weighted average current yield on the portfolio was 10.8%, with first lien term loans yielding 11.6% [14] Credit Quality - The overall credit quality remained stable, with 99.7% of credits rated in the highest category, and only two investments on non-accrual status [5][6] - The company has taken decisive actions to resolve challenges in four portfolio companies through sales and restructurings [5][6] Management Commentary - The management expressed confidence in navigating the current economic environment, citing a robust pipeline and strong underwriting standards to enhance portfolio quality and performance [5][6]