Edison Investment Research - Marble Point Loan Financing (MPLF) Marble Point Loan Financing - Dividend suspended

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Edison Investment Research

Pedro Fonseca

Marble Point Loan Financing - Dividend suspended

Marble Point Loan Financing (MPLF) is temporarily suspending its dividend due to the impact of COVID-19.The recent economic disruption has resulted in rating agencies downgrading the underlying collateral of MPLFâ€™s collateralised loan obligations (CLOs) at a pace that could trigger its need to make provisions. The heightened risk is above that modelled by MPLF and could affect cash flow. MPLFâ€™s policy is to maintain a well-funded dividend. In the last five quarters cash distributions have exceeded dividends by a good margin. With the total impact of COVID-19 uncertain, management believes it is prudent to preserve cash now, which will provide more flexibility for when dislocations in the credit market provide good investment opportunities.

15/04/2020 2 EN

Underlying

Marble Point Loan Financing

Marble Point Loan Financing Limited is a Guernsey-based closed-ended investment company. The Company's investment objective is to generate stable current income and grow net asset value by earning a return on equity in excess of the amount distributed as dividends. It has invested in a diversified portfolio of United States dollar denominated; broadly syndicated floating rate senior secured corporate loans owned via collateralized loan obligations. Marble Point Credit Management LLC is the Company's investment manager that provides investment advisory and management services.

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GG00BF1Q4G54 London Stock Exchange Guernsey

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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Marble Point Loan Financing - Dividend suspended

Marble Point Loan Financing Limited: 2 directors

Marble Point Loan Financing - Cash flow still strong

Datatec - FY24 underlying EPS more than doubles y-o-y

Pan American Silver - La Arena divestment

SenSen Networks - Time to scale

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