智通财经APP获悉，今年以来，对美国信贷市场的担忧始终萦绕，尤其是相对银行体系而言显得脆弱且 不透明的私募信贷市场。作为连接中小企业与私募信贷资本的关键桥梁，在市场担忧持续升温之际，本 月早些时候多家商业发展公司(BDC)陆续公布的财报被视为窥探私募信贷市场健康状况的重要窗口。尽 管这些财报反映出整体私募信贷市场尚稳，但来自市场参与者的警告表明，仍不能轻易放松警惕。 整体尚稳 局部承压 今年以来，BDC股价持续承压，标普BDC指数大幅跑输美股大盘。对此，杰富瑞分析师John Hecht指 出，BDC普遍持有大量浮动利率贷款资产，在美联储降息预期的背景下，其未来利息收入面临压缩， 股息吸引力下降，从而引发估值回调。此外，市场对BDC投资组合底层资产信用风险的担忧也加剧了 抛售压力。 评级机构惠誉周三发布的一份报告显示，随着利差进一步收窄，且实物支付(PIK)规模预计将上升，上 市交易的商业发展公司(BDC)明年可能面临更大的压力。本月早些时候，惠誉就已将BDC的评级展望定 为"恶化"，理由是充满挑战的经济环境带来的资产质量压力将长期存在。 惠誉表示，利率下降作为投资者的另一个关注焦点，也将推动BDC在未来几个季 ...

Core Insights - The article discusses the allure of higher yields for income-focused investors, highlighting that while these yields can present great investment opportunities, they may also carry hidden risks [1]. Group 1: Investment Strategy - The author emphasizes a preference for quality over quantity in investment choices, particularly in blue-chip stocks, Business Development Companies (BDCs), and Real Estate Investment Trusts (REITs) [1]. - The goal is to build investment portfolios that focus on high-quality, dividend-paying companies, particularly for lower and middle-class workers [1]. Group 2: Personal Investment Philosophy - The author identifies as a buy-and-hold investor, aiming to supplement retirement income through dividends within the next 5-7 years [1].

As business development companies continue to face headwinds, there are still some more resilient choices throughout the sector. I believe that Barings BDC ( BBDC ) is one of the better choices in theFinancial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potential for long term-growt ...

Core Insights - Business development companies (BDCs) are currently facing challenges, but there are resilient options available in the sector, with Barings BDC (BBDC) identified as a strong choice for investors [1]. Investment Strategy - A hybrid investment strategy combining classic dividend growth stocks with BDCs, REITs, and Closed-End Funds can enhance investment income while achieving total returns comparable to traditional index funds like the S&P [1].

iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios.Rewards and risks go hand in hand, and that goes for virtually all investments. For example, a quality asset is only a good investment if bought at a good pr ...

iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios.Rewards and risks go hand in hand, and that goes for virtually all investments. For example, a quality asset is only a good investment if bought at a good pr ...

Golub Capital BDC (NasdaqGS:GBDC) Q4 2025 Earnings Call November 19, 2025 10:00 AM ET Company ParticipantsDavid Golub - CEORobert Dodd - Director, Specialty FinanceChris Ericson - CFOTim Topicz - COOJordan Wathen - Equity Research AssociateOperatorHello everyone, and welcome to GBDC's earnings call for the fiscal quarter and fiscal year, and it's September 30th, 2025. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements ...

Golub Capital BDC (NasdaqGS:GBDC) Q4 2025 Earnings Call November 19, 2025 10:00 AM ET Speaker2Hello everyone, and welcome to GBDC's earnings call for the fiscal quarter and fiscal year, and it's September 30, 2025. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts made during this call may c ...

GOLUB CAPITAL BDC, INC. EARNINGS PRESENTATION QUARTER ENDED SEPTEMBER 30, 2025 Confidential | for discussion purposes only Some of the statements in this presentation constitute forward-looking statements, which relate to future events or our future performance or financial condition. The forward-looking statements contained in this presentation involve risks and uncertainties, including statements as to: our future operating results; our business prospects and the prospects of our portfolio companies, incl ...

we discuss ideas like this as they happen in more detail. All active investors are welcome to join on a free trial and ask any question in our chat room full of sophisticated traders and investors.In this article, we will examine one more beaten-down BDC, or business development company. Today, we talk about Golub Capital BDC ( GBDC ). There are several simplified assumptions to provide a basic ideaArbitrage Trader, aka Denislav Iliev has been day trading for 15+ years and leads a team of 40 analysts. They ...