Specialty finance company Eagle Point Credit (NASDAQ:ECC) has released their 3rd quarter investor presentation.
ECC is a holder of CLO’s (collateralized loan obligations) and has been as transparent with their data as any similar company. While we personally believe that companies that hold CLOs have a very high risk in a poor economy they provide some decent returns with a trending or growing economy.
ECC has 2 term preferred issues outstanding and 2 baby bonds outstanding that income investors hold and thus this overview might be of interest.
Any bonds or preferred stocks issued by ECC are unrated-thus considered junk (junk means less than investment grade rated).