2024-05-27 11:47:36 ET
Summary
- Earlier this year, I wrote a relatively bearish article on Saratoga Investment Corp (SAR).
- The presence of excessive leverage was the key reason to avoid SAR.
- Now, SAR has circulated its Q4, 2024 earnings deck, which does not embody the necessary data points to warrant a sufficient basis for going long.
- In this article, I explain why I still consider SAR a suboptimal BDC investment after the most recent earnings release.
March this year, I wrote an article on Saratoga Investment Corp ( SAR ) assigning a neutral or hold rating despite some very enticing characteristics that SAR embodied (e.g., diversified portfolio, focus on cash flowing businesses, and most of the exposure sitting at first lien level)....
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For further details see:
Saratoga Investment Corp: The Risks Are Still Too High