Kayne Anderson BDC Up as KBW Upgrades on Low Fee Structure (1)

(Updates with shares, analyst note.)

Kayne Anderson BDC Inc. shares gain as much as 2.6% after Keefe, Bruyette & Woods upgraded its rating on the investment company to outperform from market perform, citing a low fee structure and leverage, with room for deployment.

• Analyst writes that although the company is a “relatively new BDC,” it “has avoided some of the higher trafficked parts of the market such as technology and software,” which could “give it slightly more insulation on spreads”
• “KBDC may need to eventually reduce its dividend, although this will not likely be until later next year at the ...