Crescent BDC falls after Q4 results miss expectations

Crescent Capital Bdc

20/02/2025 15:43

** Shares of business development company Crescent Capital
BDC  CCAP.O  fall as much as 6.2%; last down 3.9% at $19.21
    ** CCAP late Wednesday posted Q4 net investment income per
share of 55 cents, missing Wall Street expectations of 56 cents,
according to estimates compiled by LSEG
    ** Q4 investment income fell 7.2% to $46.4 million, missing
estimates of $47.3 million
    ** Brokerage KBW says the earnings miss was driven by lower
interest income and dividend income, adding that there was a
slight credit deterioration due to increase in non-accruals
    ** CCAP is focused on originating and investing in debt of
U.S. private middle market companies
    ** As of last close, CCAP stock up 4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))