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American Capital, Ltd. Message Board

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  • engie095 engie095 Feb 18, 2012 1:43 AM Flag

    What exactly is negative about the results that ACAS reported?

    Do you think they'll ever get PPS above NAV before reinstating dividends? If they're not paying a dividend, why would PPS growth ever outpace NAV growth? I think a reasonably good point has been made on this board that we shouldn't expect PPS > NAV until dividends are reinstated, but management is not going to do that until PPS < NAV. Catch-22, no?

    Since the debt covenants no longer have net worth requirements, what do you see being the risk from mark-to-market? The 1:1 requirement for BDCs?

    Yeah, they got hammered in 08/09, but understanding why things weren't as bad as they seemed (thank you Jaded Consumer) and the way that they positioned themselves with respect to their lenders impressed me enough that I trust their ability to manage things.

    Thanks for the excellent posts.

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