HTGC - BDCs' credit quality fares better than feared at pandemic's start RayJay says

As indicated by Q3 earnings to date, business development companies' credit quality isn't "as bad as initially feared" in March and April, writes Raymond James analyst Robert Dodd.Says Q3 non-accrual rates at cost could remain flat vs. 5.4% at the end of Q2."Significantly more BDCs are reporting flat/lower non-accrual levels" than Q2 2020In BDCs, the pain is where one would expect — travel/leisure, oil & gas, and retail, etc."Like-for-like, the BDCs that have reported have not seen an increase in total non-accruals, though first-lien non-accruals are down and second-lien non-accruals are up," Dodd writes.Se BDC Prospect Capital's (PSEC) total return vs. the S&P 500 and BDC ETF BIZD over the past year:ETFs:[[BIZD]], [[BDCS]], [[FGB]], [[BDCY]]Interested tickers: [[MAIN]], [[ARCC]], [[AINV]], [[HTGC]], [[OCSL]]Previously: Stable credit, higher asset prices drive Ares Capital Q3 results (Oct. 27)

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BDCs' credit quality fares better than feared at pandemic's start, RayJay says