Disastrous ACAS Earnings Won’t Help Lender Negotiations
American Capital reported its second quarter earnings today and they weren’t pretty. The business development corp. (BDC) lost $547 million in the quarter and provided no update on its default on $2.3 billion in credit. It has been in default for around five months, and continues negotiations with lenders over resolving the default. I listened to its 90 minute earnings call with CEO Malon Wilkus—highlights after the jump...
5 August 2009•3 mins read
