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Fly News Breaks for March 8, 2018
TCRD
Mar 8, 2018 | 08:15 EDT
As reported earlier, Maxim analyst Michael Diana downgraded THL Credit to Hold from Buy citing the unexpected Q4 losses as seen in the 7.3% decline in the company's net asset value. Diana attributes the losses to the company's "transition toward first-lien senior secured loans to PE-sponsored companies from more junior positions in unsponsored companies", adding that he "would not be surprised by further losses".
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