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home / news releases / GHY - GHY: At A Historic Premium Time To Divest (Rating Downgrade)

GHY - GHY: At A Historic Premium Time To Divest (Rating Downgrade)

PGIM Global Short Duration High Yield Fund Inc.

2024-07-18 23:37:01 ET

Summary

  • GHY is a global high-yield fixed-income CEF with a diverse geographic reach and credit spectrum composition.
  • The fund's discount to NAV is near historic highs, credit spreads are tight, and distribution relies heavily on the return of capital.
  • The fund leans towards BB and B-rated bonds, with a not-insignificant portion in CCC debt.
  • All risk factors associated with this CEF point to overstretched levels, with a high beta element during the next risk-off move.

Thesis

For further details see:

GHY: At A Historic Premium, Time To Divest (Rating Downgrade)
Stock Information
Company Name: PGIM Global Short Duration High Yield Fund Inc.
Stock Symbol: GHY
Market: NYSE
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