Crescent Capital/$CCAP

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About Crescent Capital

Crescent Capital BDC Inc is a business development company structured as an externally managed, closed-end, non-diversified management investment company. The company's primary investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. It will seek to achieve its investment objectives by investing in secured debt (including senior secured, unitranche, and second lien debt) and unsecured debt (including senior unsecured, mezzanine, and subordinated debt), as well as related equity securities of private U.S. middle-market companies.
Ticker
$CCAP
Sector
Finance
Primary listing
NASDAQ
Employees
-
Headquarters
Los Angeles, United States
Website
www.crescentbdc.com

Crescent Capital Metrics

BasicAdvanced
$353M
-
-$0.09
0.58
$1.66
1.25%

Bulls say / Bears say

Second-quarter net investment income was $0.36 per share, above the $0.34 base dividend. The board also declared a further $0.03 special dividend, giving income-focused investors support for the current payout. (Crescent Capital BDC)
Credit repair may be starting to show results: there were no new non-accruals in the quarter, while restructurings reduced non-accrual investments from 5.7% to 4.8% of debt investments at cost. The portfolio is also spread across 192 companies, with more than 90% in senior secured first-lien or unitranche first-lien assets. (Crescent Capital BDC, Exa)
CCAP has meaningful financial flexibility while it works through the portfolio: $35.7 million of cash and restricted cash plus $199.6 million of undrawn credit capacity at quarter-end. Management expects portfolio realisations to bring leverage back into its target range in the second half of 2026, while new investments keep adding diversification. (Crescent Capital BDC, Seeking Alpha)
Net asset value fell to $17.82 per share from $18.27 in the previous quarter and $19.10 at the end of 2025. This was the eighth consecutive quarterly decline, showing that credit losses and valuation pressure are still eroding the underlying asset value. (Crescent Capital BDC, Quartr)
Credit risk remains material despite the improvement in non-accruals: the watchlist rose to about 15% of the portfolio, with particular pressure in deferrable consumer spending and the legacy First Eagle assets. Continued restructurings and portfolio rotation could therefore produce further NAV losses. (Exa, Yahoo Finance)
Earnings power is weakening: total investment income fell to $36.3 million from $37.9 million quarter on quarter, while the weighted average yield on income-producing securities fell to 9.6% from 9.8% and 10.4% a year earlier. Leverage also stood above the long-term target at 1.42 times debt to equity, leaving less room for further portfolio stress. (Crescent Capital BDC, Seeking Alpha)
Data summarised monthly by Lightyear AI. Last updated on 20 Sept 2026.

Crescent Capital News

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Crescent Capital BDC Q2 Earnings Call Highlights

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