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Posted by
Two Blokes Jun 22 -
Filed in
Stock
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3 views
Downgrading MSDL to hold, due to declining earnings, weak dividend coverage, and rising PIK interest income, signaling potential portfolio quality concerns. MSDL's discount to NAV has widened, reflecting increased market skepticism and risk, despite a high yield of 10.3% and low non-accrual rates. Q1 earnings were disappointing, with the lowest net investment income in a year and sluggish new investment activity, raising doubts about future growth.
