2024-05-28 08:00:00 ET
Summary
- FSK KKR Capital has made efforts to address its portfolio issues and has shown improvement in its latest earnings report.
- The company has increased its liquidity and made significant progress in restructuring troubled companies.
- FSK KKR Capital's financials remain strong, with solid dividend coverage and a discounted valuation compared to some of its peers.
- Non-accruals continue to be a problem, but management has plans in place to offset this.
- FSK has also been decreasing its exposure to first-lien loans but increasing its exposure to asset-based finance.
Introduction
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FSK KKR Capital: Headwinds Persist, But Strong Dividend Coverage Makes Them A Buy