KBRA Releases Research - Fourth-Quarter 2022 Business Development Company (BDC) Ratings Compendium
KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter and year ended December 31, 2022, as well as recent industry developments. KBRA believes that despite recent headwinds, including a potential recession and asset quality uncertainty, the BDCs in its coverage universe remain stable with few near-term maturities and solid credit metrics, including comfortable liquidity, low non-accruals, and appropriate leverage.
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA's ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.