Goldman Sachs BDC: High Interest Rates Causing Increased Non-Accruals

BackyardProductionOverview I've grown to become very fond of business development companies due to their high levels of cash flow generation in an environment of elevated interest rates. The days of near-zero rates are likely behind us for a very long time. When you consider the high inflation and the low unemployment rate, there seems to be little incentive for the Fed to start cutting rates. As a result, BDCs should be able to capitalize on these higher rates with their portfolios of floating rate deb ...