NII

Logan Ridge Finance Corporation Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Tuesday, March 26, 2024
Regulation S-K, Growth, NAV, Regulation, Treasurer, Disclosure, BC Partners, Investment, NII, Family, Share repurchase, Total, LRFC, Cryptocurrency

NEW YORK, March 26, 2024 (GLOBE NEWSWIRE) -- Logan Ridge Finance Corporation (“Logan Ridge”, “Logan”, “LRFC”, “Company”, “we”, “us” or “our”) (Nasdaq: LRFC) announced today its financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Net asset value decreased to $33.34 per share as of December 31, 2023 from $34.78 per share in the as of September 30, 2023.
  • Restored the Company’s quarterly distribution during the first quarter of 2023, which has increased each quarter during the year.
  • As of December 31, 2023, the Company reported undistributed spillover earnings of $2.6 million, or $0.97 per share.
  • Our operating results for the years ended December 31, 2023 and 2022 were as follows (dollars in thousands):
    For the Years Ended December 31,

Portman Ridge Finance Corporation Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, March 13, 2024
Joint Ventures, CLO, Certified Public Accountant, AQR Capital, University, PwC, Central Florida, Credit control, Joint venture, Policy, NAV, Par, Controller, Treasurer, American Institute, Investment, NII, Share repurchase, Total, Cryptocurrency

NEW YORK, March 13, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Reports Strong Year-Over-Year Performance with Total Investment Income of $76.3 Million, an Increase of 9.6% and Net Investment Income of $34.8 Million
    NEW YORK, March 13, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the fourth quarter and full year ended December 31, 2023.
  • Total investment income for the fourth quarter of 2023 was $17.8 million, a decrease of $0.8 million as compared to $18.6 million for the fourth quarter of 2022 and a decrease of $0.8 million as compared to $18.6 million for the third quarter of 2023.
  • Core investment income1, excluding the impact of purchase price accounting, for the fourth quarter of 2023 was $17.7 million, unchanged from the fourth quarter of 2022 and a decrease of $0.6 million as compared to $18.3 million for the third quarter of 2023.
  • The increase in NII in the fourth quarter of 2023 was the result of a one-time expense reimbursement from the Company’s investment adviser.

KBRA Releases Research – Fourth-Quarter 2023 Business Development Company (BDC) Ratings Compendium

Retrieved on: 
Thursday, March 28, 2024
Banking, Professional Services, Insurance, Finance, CLO, Pressure, SPV, Environment, FV, PIK, KBRA, BDC, Compendium, NII, Quarter, Growth, Federal, Bank

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended December 31, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments.

Key Points: 
  • KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended December 31, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments.
  • The performance of KBRA-rated BDCs remained stable in 4Q23 with solid credit metrics, including comfortable liquidity considering near-term maturities, low non-accruals, and appropriate leverage overall.
  • KBRA will be monitoring BDC’s non-accrual rates and other signs of portfolio stress, as most underlying borrowers only began to experience the full impact of rate hikes in late 2023.
  • Growth was targeted toward perpetual-life BDCs that raised mostly retail capital and newly formed BDCs that raised significant institutional capital in 2023.

Decision Sciences International Corporation Announces Breakthrough, Passive Human Detection Capability for Discovery®

Retrieved on: 
Monday, March 25, 2024
Technology, Other Defense, Security, Other Technology, Software, Government Technology, Hardware, Artificial Intelligence, Defense, Salt, Radiation, Machine learning, Muon, Customs, Steel, Total cost, Weapon, Coffee, Human, Lead, Radiation protection, Anomaly, TCO, Charged particle, NII, Multinational corporation, Water, Decision Sciences, Cargo scanning, Ice, Multimedia, Artificial intelligence, Medical imaging

DSIC’s passive Discovery® system does not generate any harmful radiation as does x-ray, and is intrinsically safe for the user, the cargo, and any human beings that may be hidden in the cargo.

Key Points: 
  • DSIC’s passive Discovery® system does not generate any harmful radiation as does x-ray, and is intrinsically safe for the user, the cargo, and any human beings that may be hidden in the cargo.
  • Now, in response to customer requirements, Decision Sciences has developed a new and revolutionary algorithm to safely detect human beings hidden inside containers and cargoes.
  • As Kevin Davies, DSIC’s Chief Commercial Officer stated: “This is a real game-changer in the fight against human trafficking globally.
  • As Discovery® is a totally passive system, no safety zone is needed, which significantly reduces the requirements for civil works radiation protection.

Silver Spike Investment Corp. Announces Agreement to Acquire Loan Portfolio From Chicago Atlantic

Retrieved on: 
Tuesday, February 20, 2024
Silver, Joint venture, SSC, Investment, CALP, Keefe, Bruyette & Woods, NII, LLP, Cannabis, Research, Financial services

NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (the “Company”) (Nasdaq: SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that it entered into a definitive agreement with Chicago Atlantic Loan Portfolio, LLC (“CALP”) for the purchase (the “Loan Portfolio Acquisition”) from CALP of a sizeable portfolio of loans (the “CALP Loan Portfolio”).

Key Points: 
  • NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (the “Company”) (Nasdaq: SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that it entered into a definitive agreement with Chicago Atlantic Loan Portfolio, LLC (“CALP”) for the purchase (the “Loan Portfolio Acquisition”) from CALP of a sizeable portfolio of loans (the “CALP Loan Portfolio”).
  • CALP has agreed to use reasonable best efforts to add 4 loans with an aggregate value of approximately $43 million to the CALP Loan Portfolio prior to the closing of the Loan Portfolio Acquisition.
  • The Company and CALP may also agree to the addition of other loans to the CALP Loan Portfolio prior to the closing of the Loan Portfolio Acquisition.
  • The Loan Portfolio Acquisition would reduce the sector concentration of the Company’s investment portfolio, as the Company would acquire loans to both cannabis and non-cannabis companies consistent with its broadened investment strategy.

OFS Credit Company Announces Financial Results for the First Fiscal Quarter 2024

Retrieved on: 
Friday, March 8, 2024
Banking, Professional Services, Finance, NII, CLO, NAV, Credit, Investment, Cryptocurrency

OFS Credit Company, Inc. (Nasdaq: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2024.

Key Points: 
  • OFS Credit Company, Inc. (Nasdaq: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2024.
  • Net investment income (“NII”) of $4.6 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2024.
  • This compares to NII of $5.3 million, or $0.36 per common share, for the fiscal quarter ended October 31, 2023.
  • Core net investment income (“Core NII”)1 of $7.2 million, or $0.45 per common share, for the fiscal quarter ended January 31, 2024.

Eagle Point Income Company Inc. Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024
Banking, Asset Management, Professional Services, Finance, EIC, Investment, NAV, CLO, GAAP, History, EICA, NII, Bank

Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC, EICA, EICB) today announced financial results for the quarter and full year ended December 31, 2023 and certain additional activity through February 15, 2024.

Key Points: 
  • Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC, EICA, EICB) today announced financial results for the quarter and full year ended December 31, 2023 and certain additional activity through February 15, 2024.
  • “Eagle Point Income Company capped off an outstanding 2023 with another quarter of strong cash flows and growing net assets,” said Thomas P. Majewski, Chairman and Chief Executive Officer.
  • We grew our net asset value per share by over 2% for the quarter and 11% for the full year.
  • For the fiscal year ended December 31, 2023, the Company recorded GAAP net income of $29.3 million.

Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024
Banking, Asset Management, Professional Services, Finance, ECC, Investment, NAV, CLO, ECCW, ECCV, GAAP, ECCC, Lisp (programming language), NII, Bank

Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCV, ECCW, ECCX) today announced financial results for the quarter and fiscal year ended December 31, 2023 and certain additional activity through February 15, 2024.

Key Points: 
  • Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCV, ECCW, ECCX) today announced financial results for the quarter and fiscal year ended December 31, 2023 and certain additional activity through February 15, 2024.
  • Our portfolio generated strong cash flows each quarter and we sourced attractive investments for the Company throughout the year,” said Thomas P. Majewski, Chief Executive Officer.
  • Net asset value (“NAV”) per common share of $9.21 as of December 31, 2023, compared to $9.33 as of September 30, 2023.
  • The common stock issuance resulted in $0.03 per share of NAV accretion for the quarter ended December 31, 2023.

Agibank reports net income of R$430.1 million in 2023 and ROE of 33.8%

Retrieved on: 
Tuesday, February 20, 2024
Bank, NII, Local, Growth, Perception, Fitch Ratings

The Company achieved a net income of R$430.1 million, which represents an increase of 325.5% compared to 2022.

Key Points: 
  • The Company achieved a net income of R$430.1 million, which represents an increase of 325.5% compared to 2022.
  • In the last quarter of 2023 alone, net income reached R$145.5 million and operating result R$193.3 million, an increase of 5.7% and 14.2% compared to the previous quarter, respectively.
  • In the year, operating income reached R$606.0 million, an increase of 372.8% compared to last year.
  • Agibank ended 2023 with a Net Interest Income (NII) of R$3.0 billion, an increase of 39.4% compared to 2022.

Philip R. Lane: The banking channel of monetary policy

Retrieved on: 
Friday, February 16, 2024
Online, BSI, Specialization, BLS, Exercise, House, History, AnaCredit, NFPS, Policy, Imir, NII, ECB, T3, BVAR, CES, Housing, Composite, SHSS, Bank, Outlook, IRB, Eurozone, Total, Level, IBoxx, Supervision, Inventory, Deutsche Bundesbank, MFI, Universal, T2, Business, MIR, IHS Markit, Excess, QSA, Florence School, Insurance, Eurosystem, Household, G-SIB, Lombard, T+2, Observation, Rubric, Credit, ILM, Fused quartz

for rates, credit growth in deviation from the start of the cycle (t) in p.p.

Key Points: 
    • for rates, credit growth in deviation from the start of the cycle (t) in p.p.
    • Starting months correspond to the month immediately preceding the first hike or explicit announcement of the hike of the cycle.
    • The dotted lines shows counterfactuals for lending rates and lending volumes, taking December 2021 as the last observation and
      projecting volumes conditional on the path of monetary policy rates.
    • The one for lending volumes is based on the BVAR model in Altavilla,
      Giannone, and Lenza (2016).
    • Composite funding costs are a weighted average of deposit rates
      and average monthly bond yields, with outstanding amounts as weights.
    • Right chart shows
      the contributions of the components to the change in the composite bank funding cost
      between December 2021 and November 2023.
    • Latest observations: 8 February 2024 for bond yields; December 2023 for other series.
    • Notes: ?Others? include shares (listed and not listed as well as those issued by investment
      funds), and insurance and pension schemes.
    • Retail

      Specialised

      Universal

      10

      10

      8

      8

      6

      6

      4

      4

      2

      2

      0

      0

      -2

      -2

      -4
      Jan-20 Aug-20 Mar-21 Oct-21 May-22 Dec-22 Jul-23

      -4

      Sources: ECB (iBSI, iMIR) MPC Task Force on Banking Analysis and ECB calculations.

    • Investment refers to the net
      change in property plant and equipment over assets; cash refers to cash and cash
      equivalents over assets.
    • Households
      loans, credit standards and loan demand
      Rubric
      Changes in credit standards for
      loans to households, and
      contributing factors
      (net percentage)

      0

      30

      -40

      20

      Sources: ECB (BSI) and ECB calculations.

    • Low-income households are those in the bottom 20 per cent
      of the income distribution; high-income households are those in the top 20 per cent.