Prospect Capital Corporation (NASDAQ:PSEC) Q4 2023 Earnings Call Transcript

And you certainly saw that during the pandemic when larger credits were more resilient, and you see that during downturns in general. But overall, I’d say our portfolio is holding up quite well amidst the increase in rates. We do have a portion of our portfolio that has not benefited as much from an increased rate. That’s a structured credit book. That’s the real estate book. That’s deals we also own equity, which, of course, becomes zero-sum with leverage. Folks, I’m hearing now are concerned about what about rates go down? Because inflation has abated or recession comes into play. And I would say, while we may not have gone up as much as others that have a 100% pure floating rate credit book, we will not go down as much as others, and have just a less volatile business model all weather in nature compared to others vis-à-vis rate exposure.

Robert Dodd: I appreciate that color. Thank you, Grier. And I also agree with you, more timely disclosure from BDCs would be a good thing in general. Thank you.

Grier Eliasek: Thanks.

Operator: This concludes our question-and-answer session. I would now like to turn the call back over to Mr. John Barry for any closing remarks.

John Barry: Okay, everyone. Thank you. And we’ll see you on the next call. Have a wonderful day now. Bye.

Grier Eliasek: Thank you all.

Operator: Conference has now concluded. Thank you for your participation. You may now disconnect your lines.