PHILADELPHIA, Sept. 9, 2024 /PRNewswire/ -- The Board of Directors of FS Credit Opportunities Corp. (the Fund) (NYSE: FSCO) announced the monthly distribution for September 2024. The distribution of $0.06 per share will be paid on September 30, 2024. Further information on the distribution is summarized in the charts below.The current annualized distribution rate equates to an annualized distribution yield1 of 10.1% and 11.4%, respectively, based on the Fund's net asset value (NAV) and market price as of Au ...

财务数据和关键指标变化 - 基于净资产价值,基金在第二季度实现2.75%的净收益 [6] - 截至2024年6月30日,基金年初至今的净收益率为8.67%,超越高收益债券609个基点,超越贷款432个基点 [6] - 基金在第二季度支付每股0.18美元的分红,投资收益完全覆盖了分红支付 [8] - 截至2024年8月30日,基金的年化分红收益率为10%(基于净资产价值)和11.5%(基于股价) [8] 各条业务线数据和关键指标变化 - 基金投资组合中约83%为优先担保债务,与上一季度持平 [14] - 次级债务占比为4%,较上季度的5%有所下降 [14] - 资产抵押融资占比为4%,股权投资占比为9% [14] - 公开市场信贷占48%,私募信贷占52% [14] 各个市场数据和关键指标变化 - 公开市场信贷投资占总投资活动的三分之一,91%为优先担保贷款 [14] - 私募信贷投资占总投资活动的三分之二,主要集中在优先担保贷款和次级债务 [14] - 私募信贷市场的平均利差从2023年末的630个基点收窄至530个基点,公开市场B3级债券的利差从450个基点收窄至350个基点 [36][37] 公司战略和发展方向及行业竞争 - 基金采取灵活的投资策略,可投资于公开和私募信贷市场,根据市场环境动态调整资本配置 [20] - 基金利用规模优势,通过广泛的投资渠道和专业的尽职调查,寻找具有复杂资本结构、缺乏流动性或特殊事件驱动的投资机会 [13][21] - 基金维持适度的杠杆水平,保持一定的现金头寸,以应对潜在的市场波动 [16][17][19] - 基金投资组合侧重于现金流稳健、杠杆适中、管理团队经验丰富的企业,避免高周期行业 [16][17][18] 管理层对经营环境和未来前景的评论 - 尽管第二季度经济数据和信贷收益均较为稳健,但第三季度以来市场出现大幅波动,反映出对经济软着陆前景的担忧 [16] - 公司预计未来一年内违约率可能有所上升,尤其是贷款市场,且贷款的回收率将继续低于历史平均水平 [11] - 公司认为在当前的竞争环境和经济不确定性下,保持谨慎的投资策略和适度的杠杆水平非常重要 [16][17][18] 其他重要信息 - 公司于2024年5月发行了1亿美元的优先股融资,为基金提供了额外的购买力 [8] - 基金的折价水平在2023年和2024年持续收窄,反映出良好的投资表现和分红政策 [9] - 基金的费用结构介于封闭式基金和BDC之间,与其灵活的公开市场和私募市场投资策略相匹配 [51][52] - 基金的不良贷款占比为2.7%,管理层认为处于可控水平 [54] 问答环节重要的提问和回答 问题1 **提问者: 投资组合的目标贷款与价值比是多少?** **回答**: 公司采取自下而上的方法,根据资产价值的稳定性确定贷款与价值比。通常在50%-60%之间 [24] 问题2 **提问者: 公司是否考虑通过回购股票来利用折价?** **回答**: 公司和董事会一直在评估资本的最佳用途,包括股票回购、分红政策和投资机会。这是一个持续的讨论过程 [26] 问题3 **提问者: 利率下降是否会影响公司维持每月0.06美元分红的能力?** **回答**: 目前公司认为分红水平是有保障的。即使在利率下降的情况下,公司的浮动利率资产和费用收入也能提供一定的缓冲。但长期来看,整个行业的收益压力可能会增加 [28][29]

PM Images Overview I've grown to appreciate high-quality credit funds that have the power to provide total returns that are comprised of both income and some capital appreciation. I've come across FS Credit Opportunities (NYSE:FSCO) and I believe that this has this structure in place to be a solid choice to get some credit exposure. FSCO operates as a closed end fund that invests in a diversified portfolio of different credit instruments such as senior secured loans and high-yielding bonds. These types ...

财报发布信息 - 公司将于2024年9月5日上午9点(东部时间)召开第二季度业绩电话会议[11] - 公司将于2024年9月4日市场收盘后在公司网站的投资者关系部分发布包含财务和运营信息的演示文稿[12] 风险因素 - 公司提醒投资者关注可能影响未来业绩的风险因素,包括经济变化、地缘政治风险、恐怖主义、自然灾害或疫情等[13] 信息更新 - 公司承诺不会更新或修改演示文稿中的信息,除非联邦证券法另有要求[12]

PHILADELPHIA, Aug. 1, 2024 /PRNewswire/ -- The Board of Directors of FS Credit Opportunities Corp. (the Fund) (NYSE: FSCO) announced the monthly distribution for August 2024. The distribution of $0.06 per share will be paid on August 30, 2024. Further information on the distribution is summarized in the charts below.The current annualized distribution rate equates to an annualized distribution yield1 of 10.1% and 11.1%, respectively, based on the Fund's net asset value (NAV) and market price as of July 31, ...

Igor Kutyaev One of our largest positions on the taxable bond side has been with FS Credit Opportunities (NYSE:FSCO), a relatively new listed closed-end fund ("CEF") from FS Investments. Prior to November 2022, the fund was unlisted, providing only quarterly liquidity to shareholders up to 5% of shares. The conversion from a quarterly liquidity to intraday liquidity vehicle allowed investors to sell out late in 2022 when bonds were falling precipitously as rates rose and investors positioned for recession. ...

John M Lund Photography Inc/DigitalVision via Getty Images A recent insight from Voya Investment Management suggests that rate cuts have been delayed in the second quarter of 2024 but not derailed. Many income investors like me are wondering if and how "higher for longer" rates will affect investments in credit funds that offer senior secured loans, corporate bonds, and related securities that generate high yield income. Last month, we highlighted the silver lining for bond investors in this environment: Fo ...

PHILADELPHIA, June 3, 2024 /PRNewswire/ -- The Board of Directors of FS Credit Opportunities Corp. (the Fund) (NYSE: FSCO) announced the monthly distribution for June 2024. The distribution of $0.06 per share will be paid on June 28, 2024. Further information on the distribution is summarized in the charts below. The current annualized distribution rate equates to an annualized distribution yield1 of 10.2% and 11.4%, respectively, based on the Fund's net asset value (NAV) and market price as of May 31, 2024 ...

分组1 - 公司在第一季度交出了出色的业绩,净资产收益率达到5.8%,超越高收益债券和高级抵押贷款指数[10] - 公司宣布将每月分红提高5%至每股0.06美元,这是自2022年11月在纽交所上市以来的第三次分红增加[11][12] - 公司股票较净资产值的折价幅度大幅收窄,反映了公司持续强劲的业绩和分红增加[13] 分组2 - 公司积极管理和审慎的信用评估将在未来一年中至关重要,公司将关注现金流强劲、负债水平适中且管理团队经验丰富的企业[35] - 公司将继续专注于高收益但有强有力条款的优先债务投资,并谨慎对待私募股权支持的公司债务[39][40] - 公司的规模和资源优势有助于获得差异化的投资机会,并提供灵活的融资结构[41][42][43] 问答环节重要的提问和回答 问题1 **Ellie Jiang 提问** 询问公司在消费者行业的投资机会和风险[53] **Jiazhen Zhao 回答** 公司对消费者行业持谨慎态度,但通过选择特定的子行业和公司获得了有吸引力的投资机会[54][55][56][57] 问题2 **Yang Bai 提问** 询问公司目前最佳的风险调整收益机会在哪里[58] **Jiazhen Zhao 回答** 公司认为一级抵押贷款提供最佳风险调整收益,公司谨慎看待资本结构下行的机会[59][60][61] 问题3 **Joyce Ju 提问** 询问公司如何看待私募投资组合的前景[63] **Lei Chen 回答** 公司认为私募投资组合提供了更好的投资机会,因为公开市场的信用利差和条款已经收紧,而私募市场仍有更有吸引力的机会[64][65][66][67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 22, 2024 FS CREDIT OPPORTUNITIES CORP. (Exact name of Registrant as specified in its charter) Maryland 811-22802 46-1882356 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 201 Rouse Boulevard Philadelphia, Pennsylvania 19112 (Ad ...