WhiteHorse Finance reports Q4 core NII 46c, consensus 46c

Reports Q4 Net Asset Value per share $13.63 vs. $14.30 per share in 2022. CEO Stuart Aronson commented, “I am pleased to report that WhiteHorse’s core net investment income increased by nearly 15% compared with 4Q22 and was well in excess of our regular dividend. While we marked down certain assets during the period, the investments in our existing portfolio were underwritten at modest leverage levels and are generally well-positioned to service our debt in a sustained high-interest rate environment. Additionally, our portfolio remains overwhelmingly represented by non-cyclical or lightly cyclical borrowers. While we remain cautious about prevailing economic conditions, we are seeing a continuing rebound in terms of both deal volume and quality in the lower middle markets, and our pipeline activity levels remain high with opportunities to invest in credits with compelling risk-return characteristics. The strength of the pipeline enables us to be conservative in our deal selection as repayment activity gains momentum into early 2024.”