PFLT Updated Projections: Looking For Improved Credit
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PFLT Update:
I like PFLT but currently overpriced especially if we see the 'worst case' scenario for its recent credit issues with DBI discussed in previous updates.
However, DBI recently sold most of its assets as discussed in this update but we do not have the detail needed to assess the impact on PFLT.
My 'base case' projections assume the worst-case sc…