Europe
Crescent BDC’s Q4 Results Miss Expectations
Crescent Capital BDC (CCAP) shares fell by 6.2%, closing down 3.9% at $19.21.
• CCAP reported Q4 net investment income per share of 55 cents, missing Wall Street expectations of 56 cents.
• Q4 investment income fell 7.2% to $46.4 million, missing estimates of $47.3 million.
• The earnings miss was due to lower interest and dividend income, and a slight credit deterioration due to increased non-accruals.
• CCAP focuses on originating and investing in U.S. private middle market companies’ debt.
