Eagle Point Credit (ECC) Tops Q1 NII by 1c

Eagle Point Credit (NYSE: ECC) reported Q1 NII of $0.60, $0.01 better than the analyst estimate of $0.59.

FIRST QUARTER 2017 HIGHLIGHTS

• Net investment income (“NII”) and realized capital gains of $0.60 per weighted average common share1.
• NAV per common share of $17.13 as of March 31, 2017.
• Net income (inclusive of unrealized mark-to-market losses) of $0.8 million, or $0.05 per weighted average common share.
• Weighted average effective yield of the Company’s collateralized loan obligation (“CLO”) equity portfolio was 16.21% as of March 31, 2017.
• Deployed $13.8 million in net capital and received $28.9 million in cash distributions from the Company’s portfolio in the first quarter of 2017.
• Nine of the Company’s CLOs refinanced their debt tranches and one CLO was reset.
• Began paying monthly distributions of $0.20 per common share in March 2017, switching from prior quarterly distributions of $0.60 per common share.

For earnings history and earnings-related data on Eagle Point Credit (ECC) click here.

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