Crescent Capital BDC Reports Q3 2026 Earnings with Increased Net Investment Income

Crescent Capital BDC (CCAP) reported third-quarter earnings showing a slight increase in Net Investment Income to $0.37 per share, up from $0.36 in the previous quarter. This growth was primarily driven by higher recurring interest income resulting from benchmark rate increases. Despite this, the company's Net Asset Value (NAV) saw a decline to $17.72 per share from $17.82 in Q2, attributed to spread widening and realized losses. The company is actively managing its capital through a new $50 million share repurchase authorization and a $25 million Sun Life share purchase program aimed at buying stock below NAV. Additionally, Crescent announced a $30 million equity contribution toward a new joint venture vehicle expected to deliver low-to-mid-teens returns on equity. While the watch list increased slightly to 16% of the portfolio, senior first lien exposure remains high at 91%.

48 articles from 3 sources · updated

Coverage