BDC portfolio non-accrual rates hit 5.53% so far in 2Q20

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Digging into portfolio performance remains the top priority for BDC research analysts on BDC earnings calls this week. Even though most BDCs are showing a rebound in asset values, its mostly being driven by a spread tightening envionment with credit performance still an issue. After dropping roughly -13.7% in 1Q20, the public BDC’s to file so far in 2Q20 showed a +3.3% rebound in NAV-per-share.