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Posted by
Two Blokes Jun 24 -
Filed in
Stock
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2 views
MSDL trades at a discount to NAV yet boasts a highly defensive, diversified, first-lien debt portfolio focused on non-cyclical industries. Despite a recent dip in net investment income due to lower rates and expired fee waivers, portfolio quality and credit remain strong with minimal non-accruals. I maintain a 'buy' rating, expecting double-digit total returns as MSDL remains resilient amid market volatility and benefits from improving deal flow.
