OFS Credit reports Q2 EPS 28c, consensus 30c

Reports Q2 NAV per common share $7.34. “We are pleased to announce that during the second fiscal quarter our CLO equity investments received a 10.3% increase in total recurring waterfall payments compared to the prior quarter,” said Bilal Rashid, Chief Executive Officer. “We believe our balance sheet remains strong and well positioned with an asset coverage ratio comfortably below regulatory requirements. We believe our fixed-rate preferred stock financing, at below current market rates with a weighted average stated rate of 5.62%, affords us operational flexibility to create stockholder value in this interest rate environment.”