Oppenheimer's Penn: BDCs have adjusted to higher default risks
The NAVigator · Active Investment Company Alliance
September 8, 202311m 6s
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Show Notes
Mitchel Penn, managing director of equity research at Oppenheimer and Co., says that higher interest rates and stubborn inflation have impacted business development companies in terms of both defaults and leverage, but he notes that BDC executives have taken steps to minimize the impacts. Moreover, current conditions should have BDCs primed for better returns than they could deliver during low-rate times; Penn also names five BDCs worth considering now.