RBC downgrades Palmer Square Capital BDC, citing tighter credit spreads

Palmer Square Capital BDC

26/11/2025 14:47

** RBC Capital downgrades U.S. corporate financier Palmer Square Capital BDC PSBD.N to "sector perform" from "outperform"

** Brokerage also trims PT to $13 from $15, which is still a 4.9% upside to stock's last close

** Rating and PT cut citing tight credit spreads that leave few attractive liquid credit opportunities for the lender

** "While PSBD augmented its share repurchase program, utilization could be limited by PSBD's leverage, which at 1.53x, is among the highest in our coverage," brokerage says

** 6 of 6 brokerages rate the stock "hold" their median PT is $13 — data compiled by LSEG

** As of last close, PSBD down 18.49% YTD

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com))