ARCC Q1 2021 Update
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Summary
Another strong quarter for ARCC with 2.8% NAV growth, hitting my best-case projections, improved portfolio credit quality, no new non-accruals, and reduced leverage.
Improving conditions resulted in many markups including its non-accruals of which ADG (dental service provider) is now marked at 97% of cost and will likely be back on accrual.
ARCC is…