MRCC Projections: Better Alternatives At These Levels

Summary

• Plenty of 'red flags' for this BDC including high PIK income, high non-accruals, 24% decline in NAV last 4 years, reliance on fee waivers to cover the dividend, etc.

• There is a chance of another dividend reduction due to persistent reliance on fee waivers, non-cash PIK interest income of 15%, and/or continued credit issues.

• For investors seeking hi…