Jonathan Cohen: Are you €“ so are you referring to the higher rated loans catching a bit while the CCCs saw decrease this quarter?
Matthew Howlett: Yes.
Jonathan Cohen: Yes. So that’s definitely a challenge for CLOs just because they are somewhat constrained in terms of ability to add on to these CCCs. So it’s definitely something we’re keeping a close eye on and are in discussions with our manager, but as long as they’re still able to, in this environment, still move up in quality and still build par, we think they’ll be able to manage it. Right, obviously, Matt as you know, any CLO structures ability to harvest opportunity in the CCC marketplaces is going to be structurally limited.
Matthew Howlett: Right. Got you. And I guess, just the last question is first, great job covering the dividend with the NII. I mean it was really very pleased to see that improvement and the coverage and given where your stock is trading is just really impressive on the yield. It’s really impressive that you’re covering it. There’s nothing on the balance sheet, there’s just really nothing you really need to do. We don’t really have any near-term debt and even in the fixed rate long-term. So there’s really no need to open any of those series up. And in terms of balance sheet management, you feel like you are just in really good shape and just keep on moving along.
Jonathan Cohen: Sure, Matt. I think, look, it’s always a challenge striking the right balance between raising incremental equity capital, raising additional indebtedness, the cost of that indebtedness, the duration, maturities of those various pieces of indebtedness that we have on our balance sheet, and striking the right balance between the liability side of our balance sheet and the asset side of our balance sheet. So that for us is an ongoing process. It’s something that we need to think about all the time. But in that regard, we’re reasonably comfortable with the current state of our balance sheet, yes.
Matthew Howlett: Yes. I would just point, I mean you managed for the and asset price , you are starting to see the other side of it. So I would just obviously commend you on a great job of managing the balance sheet and look forward to the company. Thanks for taking my questions.
Jonathan Cohen: Thank you, Matt, very much.
Operator: Thank you. We have no further questions. So I’d now like to hand the call back to our CEO, Jonathan Cohen for some final remarks.
Jonathan Cohen: Thank you very much, operator. I’d like to thank everyone on the call today, everyone listening to the call on replay for their interest in Oxford Lane Capital Corp. We look forward to speaking to you again soon. Thanks very much.
Operator: Thank you for joining. That does conclude today’s call. Please have a lovely day, and you may now disconnect your lines.
