Eagle Point Credit (NYSE:ECC) has released earnings for the quarter ending 3/31/2018 and concurrently released a presentation of data on Powerpoint.
Eagle Point has term preferreds and baby bonds outstanding which we have owned at various times although the recently called ECCZ 7% baby bond took us (personally) out of their shares for now. We do have some of the term preferreds in the Medium Duration Income Portfolio.
ECC is a specialty finance company (not a BDC) and they invest in CLOs (collateralized loan obligations). Looking over this presentation you can see why we are only comfortable owning this during good economic times. There is a lot of “trust me” in these investments–so you better trust management if owning ECC issues.