Thapana Onphalai Barings BDC Inc. (NYSE:BBDC) is a promising, externally-managed publicly-traded BDC with re-rating upside. Barings BDC has unfortunately suffered an increase in its non-accruals in 2023 which has led to a more negative attitude towards the BDC and a 20% discount to net asset value that I think is exaggerated. Barings BDC raised its dividend twice in 2023 and the release of preliminary financial figures for 4Q-23 implies solid dividend coverage. The BDC has excess dividend coverage and could ...