earnings
confidence high
sentiment negative
materiality 0.70
FS Credit Opportunities Corp. Q3 net return -2.2%; NAV down 4.0%; distribution raised 16%
FS Credit Opportunities Corp.
- Net investment income of $0.15 per share exceeded $0.13 per share distribution during Q3 2022.
- NAV declined 4.0% quarter-over-quarter; total net return -2.2%, underperforming senior loans (1.4%) and high yield (-0.7%).
- Board approved ~16% increase in annualized distribution to ~9.15% of NAV, effective December 2022.
- Listed on NYSE on Nov 14, 2022 with phased share trading: up to 1/3 initially, additional 1/3 at 90 and 180 days.
- Committed ~$107M to new investments; portfolio 82% senior secured, 64% floating rate debt.