TPG Specialty Lending, Inc. (NYSE: TSLX) ("TSLX" or "the Company") announced today that it will release its financial results for the first quarter ended March 31, 2020 on Tuesday, May 5, 2020, after the market closes. TSLX invites all interested persons to its webcast / conference call on Wednesday, May 6, 2020 at 8:30 a.m. Eastern Time to discuss its first quarter ended March 31, 2020 financial results.
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
TPG Specialty Lending, Inc. (NYSE: TSLX, or the "Company") today sent the following letter to its stakeholders to provide a business update and preliminary Q1 2020 financial results.
Top Ranked Income Stocks to Buy for March 16th
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
Over the past months I've been researching companies that I call tails-you-win, heads-you-win opportunities. These are companies in businesses that profit during good economic times and -- more importantly -- during terrible economic times. In general, these are great stocks to buy.Source: Shutterstock And now that the United States is about a month into this coronavirus from China mess, the terrible times are here for a bit.Every day I've been getting more emails from retail and other brick-and-mortar businesses letting me know that they are closing their stores in light of the Covid-19 outbreak. This means that all of those dark stores are now generating nothing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsUnfortunately, these empty stores will be a further strain on their underlying companies. It was bad enough to be a brick-and-mortar business without a global pandemic. * 10 of the Best Long-Term Stocks to Buy in a Bear Market Because just as Walmart (NYSE:WMT) changed the retailer landscape from local shops to the big-box stores built by Sam Walton, Amazon (NASDAQ:AMZN) has been transforming the landscape even more so -- I'm talking colossal-scale changes. An E-Commerce TakeoverIn the U.S. and well-beyond, shopping online increasingly is taking the place of visiting retail locations. And even Amazon is being impacted by its own online presence in groceries as its delivery service is taking the hassle of visiting a Whole Foods out of the process.The result is that retail stores are closing.From major malls to strip malls and from main and high streets -- stores are now vacant. In 2019, companies announced the closing of 9,300 stores surpassing the record in 2017 of 8,000 closures. And so far in the opening weeks of 2020, 1,900 stores are set to close.And this is just the start. Real estate behemoth, Cushman & Wakefield (NYSE:CWK), is projecting that store closures will exceed 12,000 for full-year 2020, making the year a bad record for retailers.This includes announced plans by Pier 1 Imports to close 450 stores, Gap (NYSE:GPS) to close 230 stores and Chico's (NYSE:CHS) to close 200 stores. We also learned Forever 21 isn't forever -- as it announced the closing of 200 stores. And Walgreens Boots Alliance (NASDAQ:WBA) is also closing 200 stores this year.But there is an upside. Closing DealsCompanies have to deal with each and every closing store. Think of the inventories, the fixtures, the real estate and all of the local liabilities.There's one company that's a leader in this space -- Great American Group.Since 2013, Great American Group has closed over 6,800 stores. That amounts to over $13 billion in assets. More importantly, the company is set to explode in 2020 as the closing market is showing no signs of stopping. Great American estimates that 30% of traditional retailers could close down in the not-too-distant future.The timeline for those closings is only going to speed up, thanks to Covid-19.So how exactly did I come across this "great" company? Well, I have been researching the realities of the retail apocalypse -- who handles store closings and disposing of the facilities? In the process, I tracked down the firm contracted to take care of the stores.You guessed it. That firm was Great American Group. But my search didn't stop there -- Great American merged into a company I find even more interesting. My Top Retail Play Now: RILY StockThat company is B. Riley Financial (NASDAQ:RILY). CEO Bryant Riley is the founder and largest shareholder, owning 27.3% of its shares. And he just added to his pile on recent drops. This company is a great place to start when looking for retail plays, as I like management that has skin in the game.So what exactly does B. Riley do? It's a financial firm that operates like a big umbrella, providing the structural underpinnings for six core businesses, and these core businesses are all the results of mergers and acquisitions. As I discussed above, it owns Great American Group. But it also acquired FBR, a specialized investment bank. I am familiar with the name through my days in the banking world.I also happen to like another of its core businesses quite a bit. B. Riley Principal Investments acts much like my alt-financials, such as Hercules Capital (NYSE:HTGC) and TPG Specialty Lending (NYSE:TSLX). Both of those stocks are in one of my Profitable Investing model portfolios.Its Principal Investments makes loans and takes equity stakes in a variety of companies, and it's inching out traditional commercial banks. This business works with B. Riley Capital Management in loan origination as well as other direct asset acquisitions.And in turn, B. Riley Wealth Management utilizes the strengths of FBR to provide asset management, primarily to private clients and family offices. It currently has more than $10 billion in assets under management (AUM).Lastly, there's GlassRatner, which dovetails nicely with Great American. GlassRatner specializes in helping failed or failing businesses with restructuring and bankruptcies. It also provides asset valuation, legal counseling and accounting services. B. Riley and the Retail ApocalypseNow, valuation, auctioning and liquidation make up a reported 31% of B. Riley's segmented income. Its Capital Markets and Principal Investment businesses make up the majority of its segmented income.So, while it is not a pure play on store closings, its other businesses have additional appeal and increase my interest as an investor in RILY stock.Source: Chart by Bloomberg Investors Still Believe in B. Riley (Stock Price) The shares have generated a gain of 47.3% over the trailing five years. And when you factor in the stock market rout and dividends, RILY stock has a total return of 82.6%. Both of these measures amply outperform the general S&P 500.And now it is a very cheap stock. Shares are valued at a discount to its trailing revenues, and that revenue has been advancing by 54.2% over the past year.B. Riley's operating margin is huge for an alt-financial, running at 30.5%. This figure in turn boosts the return on shareholders' equity, which comes in at 26.3%.And while other public companies are currently in limbo, it's a pretty easy bet that there will be a lot more store closings this year in the wake of Covid-19.Meanwhile, the stock trades at a price-book value of 1.3 times, making it a value stock.It's also important to note that B. Riley operates with less regulatory oversight than a traditional bank, which is an additional bonus as it builds up its assets. The company's underlying book value has gained almost 17% per year over the trailing five years on a compounded annual growth rate (CAGR) basis).And as I noted earlier, the CEO just piled on more stock with his additional purchases in the past week.Lastly, it has a tremendous amount of cash and equivalents on hand, but management likes leverage to drive returns higher. As such, its debts-assets ratio is higher at 73.1%. This high figure gives me some pause, but provided the company works in both contracting and expanding markets, there are internal business hedges that make it more appealing. The Bottom Line on RILY StockOne final thing I always do is run a credit analysis on companies that I recommend in my Profitable Investing. And with the fallout from the coronavirus, I have been digging again into the debts of each of my holdings.B. Riley's loans are primarily due for rollovers in 2023. And credit lines are amply available. Its current credit crunch isn't much of an issue for the company, especially as it also uses preferred shares for funding. Those preferred shares have call dates that extend out much further.I also want to note that RILY stock has a history of both regular and special dividends, which give it an annual yield of 10.1%. Its distributions have been climbing by 125.8% on average over the trailing five years.I am recommending it as a "buy" as it is a current bargain. RILY stock is a great way to capitalize on what's wrong in the markets and what will eventually go right. Buy it now in a tax-free account.Neil George was once an all-star bond trader, but now he works morning and night to steer readers away from traps -- and into safe, top-performing income investments. Neil's new income program is a cash-generating machine … one that can help you collect $208 every day the market's open. Neil does not have any holdings in the securities mentioned above. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 of the Best Long-Term Stocks to Buy in a Bear Market * 7 "Perfect 10" Healthcare Stocks to Buy Now * Where the FANG Stocks Sit in This Wild Market The post B. Riley Is the Top Company Cashing in on the Retail Apocalypse appeared first on InvestorPlace.
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
TPG Specialty Lending (TSLX) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
Stock markets fell 4.4% yesterday, marking the third session in a row of losses. The declines haven’t erased the gains from last week’s bullish trading, but they put a damper on investors’ enthusiasm. There’s a feeling of gloom; President Trump has said that the country and economy are in for a hard two weeks in the first half of April as the coronavirus epidemic peaks in the States, and he walked back his previously stated hope to see the country ‘get back to work’ by mid-month. No one is certain what the near-term holds, except that times are hard.It’s in times like these that investors, when they buy, start looking that much harder at dividend stocks. With share prices dropping, and interest rates cut to near zero, stock dividends are the surest form of asset returns available today – and those low share prices have brought down the initial cost of entry.Investment bank Wells Fargo has been following the markets, and the bank’s stock analysts are coming to the plain conclusion: get into dividends now. In a series of reports released in February and March, the firm's stock researchers outline some low-cost, high-return dividend stocks that investors need to consider – and also one that may be too risky to try. We’ve pulled the details from the TipRanks database, so let’s find out what makes these stock moves so compelling.Oaktree Specialty Lending (OCSL)We’ll start in the financial sector, appropriate when the financial world seems to be crumbling around us. But there is hope. Oaktree focuses on specialty finance, offering customized credit and loan solutions for companies that lack access to more traditional capital markets. The company generates its income through fees and interest on its loan products, which include first and second liens, unsecured loans, and preferred equity. With traditional markets staggering under the weight of the lockdowns and quarantines, Oaktree may find a wider field of action later this year.Earlier this year, just before the coronavirus outbreak hit the US, Oaktree announced a capital drive of its own, raising $300 million in 3.5% notes, which will come due in 2025. The notes were used to reduce outstanding debt while lowering the rates, and providentially gave Oaktree a sound footing just as the market disruptions hit. Shortly afterward, OCSL reported Q1 fiscal 2020 earnings, showing $14.1 million in net income, or 10 cents per share. This was down from Q4, and missed the EPS forecast by 17%.Income was enough to maintain the dividend, however, at 10 cents per quarter. The annual payment, 40 cents, gives the stock a yield of 11.8%, far higher than the 2% average dividend yield found on the broader markets. OCLS has a reliable dividend history, and adjusts the payment when needed to ensure that the company can afford the dividend.Wells Fargo analyst Finian O’Shea wrote on the stock shortly before the earnings report, saying, “OCSL continues to exit legacy positions at par or greater, which likely improves its fundamentals every quarter that passes. While we still see the case for a discount because it chooses to under-earn, we are very positive on the stock at these levels.”O’Shea stands by this opinion, giving the stock a Buy rating with a $6 price target indicating an upside potential of 86%. (To watch O’Shea’s track record, click here)OCSL’s Moderate Buy analyst consensus rating is based on 2 recent reviews, both of which agree that the stock is a buy-side proposition. Shares are priced at a heavy discount, $3.10, and the $5.80 average price target suggests an 81% upside potential for the coming 12 months. (See Oaktree stock analysis on TipRanks)TPG Specialty Lending (TSLX)Next up is another specialty finance company, TPG. TPG’s customer base is middle market companies, and like Oaktree above, its corporate customers have limited access to the capital markets. TGP offers credit, financing, and funding solutions for complex business models. Underlining the importance of the niche, TSLX rose 27% in calendar year 2019.The company had a good financial quarter to finish 2019, too. EPS beat expectations by 8.5%, coming in at 51 cents and at the top line, revenues were 3.6% over expectations, at $66.5 million. On a sour note, both numbers were down year-over-year. Despite that yoy drop, TSLX kept up its dividend – the company pays out 6 dividends annually, and has a history of adjusting those payments to ensure reliability. The current payment, due this month, is 25 cents per quarter.Annualized, TSLX’s dividend comes out to $1.64, giving a yield of 12.4%. This is more than 6x higher than the average stock dividend. And it simply blows away Treasury bonds, which have dipped below 1% as the Fed has cut rates to the bone in an effort to ameliorate the financial damage of the current economic shutdowns.Finian O’Shea, quoted above, reviewed this stock as well, and rated it as a clear Buying proposition. He put a $23.50 price target on the shares, implying an upside of nearly 80%. (To watch O’Shea’s track record, click here)In his comments, O’Shea sees this stock as a conservative, defensive play. He wrote, “We’ll reiterate the view that the value-add provided though highly structured and idiosyncratic deals is still under-appreciated, and perhaps highlighted by TSLX’ best-in-class-peers now showing non-accruals. Moreover, we see that TSLX should receive a richer valuation for preserving a defensive and opportunistic financial position at this market stage.”TPG has 5 Buy ratings and just 1 Hold, giving the stock a Strong Buy from the analyst consensus. The stock is selling for $13.15, and the average price target of $23.13 is indicative of a 76% upside potential for the coming year. (See TPG’s stock analysis at TipRanks)Ventas, Inc. (VTR)Last on our list is Ventas, which Wells Fargo says to steer clear of. This company is a real estate investment trust, focused on health care facility properties in the US, Canada, and the UK. The company holds a varied portfolio, including medical offices, nursing homes, acute and special care centers, surgical centers, and medical labs. The portfolio is valued at more than $25 billion.You’d think that a company focused on health care properties would not be badly hurt in the current epidemic environment, but Ventas shares are down heavily in the current market downturn, having lost 61%. This comes despite the company edging over the estimates in its last quarterly report, when it showed 93 cents per share Funds from Operations and $996 million total revenue. Company management, however, is lowering its forward guidance, as it is not certain that tenants will be able to meet rent obligations as the economy comes to a halt. Health care facilities are working harder than ever – but their medical operations expenses are growing faster as they try to cope with the coronavirus, and those medical operations may be seen as a higher priority than rent. It is part of the spreading ripple of consequences the epidemic has set in motion.VTR is maintaining its divided, as REIT’s are required by law to return earnings to shareholders. The current payment is 79.25 cents quarterly, or $3.17 annually. This makes the yield 13.8%, the highest of the stocks on this list. The question for investors is, Does this yield offset the likely future risk?Todd Stender, covering the stock for Wells Fargo, says to Sell this stock, and he has lowered the price target from$56 to $29. He writes of the company, “The company did indicate that through February, its senior housing and companywide results were in line with its previous expectations; however, mgmt. felt it was prudent at this point to remove 2020 guidance not knowing how long this situation may last. The company has also shifted focus to the balance sheet and is becoming a bit more defensive given the level of uncertainty by tapping $2.75B from its $3.0B line of credit for added liquidity and flexibility.”Even though he rates the stock a Sell, Stender’s lower price target still suggests about 20% upside. This REIT may still bring a return, but as with the dividend yield, it’s not known if that return potential is enough to balance the likely near-term risks. (To watch Stender’s track record, click here)This stock’s analyst consensus rating is a Hold, based on a single Buy against 4 Holds and 3 Sells. Shares are currently trading for $22.95, and the average price target of $42.57 suggests a premium of 80% from that trading level. (See Ventas stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
After historic sell-off this month, the last thing many investors want to do is buy stocks. They’ve just ridden a wild roller coaster, and their tolerance for risk has fallen alongside their precious portfolios. After Monday’s devastating losses in the markets, the S&P 500 regained about half of Monday’s loss. It was a good sign, but investors will need to see more days like that in order to regain confidence. In the meantime, what they’ve gotten is today’s 5% loss.Underneath it all, there are some hopeful signs. True, we’re in a genuine bear market now, but when markets make moves of this magnitude, there is opportunity – whether those moves are up or down. And finding the profitable chances is what investing is all about.Following corporate insiders is a clear strategy for finding stocks that are upwardly mobile. Insiders – the company officers who manage the money and are responsible to shareholders for the fate of the stock – have a unique perspective on their companies’ stocks. They are privy to knowledge that the rest of us simply haven’t got, and they can use that knowledge when they make their own stock purchases. To keep a fair field, Federal requires such insiders to publicly report their stock transactions – both buys and sells.The result is a record of stock acquisitions by the insiders – that can give investors signs about particular companies. We’ve used the TipRanks Hot Insiders’ Stocks tool to track these purchases, and have picked out three that show strong buy-side signals. Let's take a closer look.TPG Specialty Lending (TSLX)We’ll start our list with a company in the finance industry, TGP Specialty Lending. This company provides lending and financing support for a wide range middle market companies that have limited resources for capital access. TGP gives its customers solutions for funding complex business models.In recent months, TGP insiders have bought up nearly $600K worth of company stock, skewing the insider sentiment here strongly positive. The largest single purchase was by Steven Pluss, a company VP, who spent $260,000 buying a block of 15,000 shares earlier this month.The company has used its earnings to keep up its dividend payments. The annualized payment of $1.64 gives a yield of 10.9%, much better than can be found in the bond market, and more than 5x higher than the average dividend yield among publicly traded companies. TSLX has a history of interspersing regular dividends with special payments.Covering this stock for Wells Fargo, analyst Finian O’Shea sees a strong upside in the near future. O’Shea writes, “The value-add provided though highly structured and idiosyncratic deals is still under-appreciated, and perhaps highlighted by TSLX’ best-in-class-peers now showing non-accruals. Moreover, we see that TSLX should receive a richer valuation for preserving a defensive and opportunistic financial position at this market stage.”O’Shea’s $23.50 price target supports the Buy rating, implying an upside of 80% from current levels. (To watch O’Shea’s track record, click here)Christopher York, of JMP Securities, is another bull, rating TSLX shares a Buy with a $22.50 price target. In his comments on TSLX, York says, “We believe the historical track record, quality of the investment portfolio & platform, and shareholder governance and best practices should continue to result in superior total returns relative to benchmarks and the company's expansion in leverage could lead to a recurring return in the low teens.” (To watch York’s track record, click here)Overall, this stock holds a Strong Buy from the analyst consensus, based on 5 Buy-side reviews against a single Hold. Shares are priced at a bargain, only $14.95, and the average price target, $23.20, suggests that the stock has room for 78% growth in the coming year. (See TPG Specialty Lending stock analysis on TipRanks)NCR Corporation (NCR)Our next stock is NCR, a famous name in the business machine industry. The company started out in the 1880s making cash registers; in its modern incarnation, NCR produces business software, as well as ATMs, barcode scanners, check processing systems, point-of-sale terminals, and self-service kiosks. NCR sees more than $6 billion in annual revenue.For its Q4 2019, NCR beat the Wall Street estimates. Earnings came in strongly positive, at $2.67 per share – a fine improvement from the year-ago net loss. Quarterly revenues grew by 5% yoy, to $1.89 billion. Management was pleased with the quarter, describing it as a “strong finish to the year.”Those weren’t just words. In the past few days, NCR’s officers have made substantial purchases of company stock, totaling nearly $2.8 million. The single largest purchases, by Michael Hayford, CEO & President, was for $1.06 million covering 60,000 shares. The second largest purchase, of 45,000 shares, was by Board of Directors member Frank Martire, who shelled out $802,800 for the stock. Insider sentiment on NCR is strongly positive, based on the high-value purchases.RBC Capital’s 5-star analyst Daniel Perlin describes NCR as a ‘Top Pick.' Backing this, he sets a $45 price target, implying a massive upside of 282%. (To watch Perlin’s track record, click here)Perlin says of NCR, “Although impossible to know when the coronavirus concerns / impacts will abate, we believe the underlying core normalized growth of the business, financial model transition, improving long-term visibility, and ultimate valuation re-rating, all remain in NCR’s grasp. We believe the recent underperformance is overdone and represents an attractive entry point for the name... As the narrative continues to shift, coupled with consistent execution and higher recurring revenues we believe the stock can re-rate higher…”Writing from Oppenheimer, Ian Zaffino upgraded NCR from Neutral to Buy. Zaffino set a price target of $20, not as bullish as Perlin’s above but still indicative of a strong 70% upside potential. (To watch Zaffino’s track record, click here)In his comments, Zaffino wrote, “We upgrade NCR, owing to its attractive valuation, expanding recurring revenue base (45%), and limited exposure to Hospitality end-markets (~12% of revenue with company-low segment margins). Further, NCR has little exposure to China (either end-market or production), ample liquidity ($1.2B), and modest leverage (2.9x net leverage); and its insiders recently purchased ~158K shares with personal funds."All in all, NCR currently holds a Moderate Buy rating from the analyst consensus, based on an even split in the reviews: 2 Buys and 2 Holds. The stock is selling for a low $11.78, while the average price target of $34.50 suggests room for 193% upside growth this year. (See NCR stock analysis on TipRanks)Assured Guaranty (AGO)We’ll wrap this list with a holding company controlling credit protection products. Assured Guaranty’s subsidiaries offer solutions for principal and interest payments on municipal and public infrastructure, and on structured financings. The company has offices in San Francisco and New York, as well as London and Bermuda.In the first half of this month – and since the coronavirus epidemic has impacted markets – AGO’s Chief Information Office, Andrew Feldstein, has made no fewer than three major share purchases in the company. His buys have averaged $1.5 million each, and have totaled over 121,000 shares. These recent purchases have sent a strong positive signal on the stock, and boosted Feldstein’s total holdings to 627,466 shares.Meanwhile, AGO pays out 20 cents per share quarterly, or 80 cents annualized, and the yield of 2.8% is almost 50% higher than the average stock dividend. The payout ratio is low – at just 24%, it indicates that the company can easily afford to sustain the payment at current income levels. AGO has raised the dividend three times in the past three years.BTIG analyst Giuliano Bologna recently reiterated his Buy rating on this stock, setting a $66 price target for the coming year. His target implies room for 148% growth in the stock. (To watch Bologna’s track record, click here)Bologna explains his optimism in his clear comments on the stock: “We believe shares of AGO are well positioned to outperform between the company’s ability to continue repurchasing ~$500M of shares at a discount, strong new business growth and potential earnings upside from the company’s asset management segment going forward.”Also upbeat on AGO is 5-star analyst Harry Fong of MKM Partners: “As with the other financial guarantors that we follow, earnings in the short term is not all that significant to how we value the shares. The major surprise in the quarter was new business as represented by PVP which was the best it has been in the past 10 years. As long as interest rates remain low, new insurance business written will likely remain tepid, but over half of the company's new business came from the international side where there is an increase in project work.”In line with his comments, Fong keeps his Buy rating on AGO shares. His $65 price target suggests 209% share growth in the coming 12 months. (To watch Fong’s track record, click here)Based on its three most recent reviews – the two above, plus the UBS rating in the graphic below – AGO shares have a unanimous Buy rating from the analyst consensus. (See Assured Guaranty stock analysis on TipRanks)
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
TPG Specialty Lending, Inc. (NYSE: TSLX, or the "Company") today reported financial results for the first quarter ended March 31, 2020. Please view a printable version of the 2020 First Quarter Results.
TPG (TSLX) delivered earnings and revenue surprises of 0.00% and 8.36%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
TPG (TSLX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
TPG Specialty Lending, Inc. (NYSE: TSLX, or the "Company") today sent the following letter to its stakeholders to provide an update on its funding model, rollforward of key balance sheet items, valuation framework and liquidity.
TPG Specialty Lending, Inc. (NYSE: TSLX, or the "Company") today announced that due to the public health impact of COVID-19 and to support the health and well-being of all of the Company's stakeholders and their families, the Company’s previously announced Annual and Special Meeting of Stockholders (or "the Meetings") scheduled for Thursday, May 28, 2020 will be changed from in-person to a virtual-only format. The Meetings will still be held on May 28, 2020, with the Annual Meeting of Stockholders scheduled for 2:00 p.m. Eastern Time and the Special Meeting of Stockholders scheduled for 2:30 p.m. Eastern Time.
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
Q1 2020 TPG Specialty Lending Inc Earnings Call
TSLX earnings call for the period ending March 31, 2020.
TPG Specialty Lending, Inc. (NYSE:TSLX, or the "Company") today sent the following letter to update its stakeholders on its business and portfolio.