Ellington Credit Q1 net loss $32.3M; NAV falls to $4.09; $54M notes issued

Ellington Credit Co

GAAP net loss of $32.3M ($0.86/share) vs net loss of $21.1M ($0.56/share) in prior quarter.
Net investment income $5.1M ($0.13/share); adjusted NII $7.3M ($0.19/share).
NAV per share $4.09, down from prior quarter including $0.24 in distributions.
CLO portfolio fair value $307.9M; purchased $30.7M and sold $34.2M of CLO investments.
Issued $54M senior unsecured notes at 8.5% due 2031; rated BBB by Egan-Jones.

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