JQC Research Note — Income Meets Fragile Coverage
JQC’s discounted floating-rate income faces weak distribution coverage, heavy leverage and sensitivity to rates, credit and net asset value.
JQC’s discounted floating-rate income faces weak distribution coverage, heavy leverage and sensitivity to rates, credit and net asset value.
JQC’s discounted floating-rate income faces fragile distribution coverage, heavy leverage and a concentrated policy-and-credit evidence window.