{"id":759987,"date":"2023-05-23T08:06:51","date_gmt":"2023-05-23T12:06:51","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-first-quarter-2023-financial-results\/"},"modified":"2023-05-23T08:06:51","modified_gmt":"2023-05-23T12:06:51","slug":"eagle-point-credit-company-inc-announces-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-first-quarter-2023-financial-results\/","title":{"rendered":"Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor1 { background-color: #d3d3d3 }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignm { vertical-align: middle }\n.bwwidth100 { width: 100% }\n.bwwidth25 { width: 25% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results<\/b><\/p>\n<p>GREENWICH, Conn.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nEagle Point Credit Company Inc. (the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) today announced financial results for the quarter ended March 31, 2023 and certain additional activity through April 30, 2023.<\/p>\n<p>\n\u201cOur portfolio continued to generate strong cash flows while maintaining a stable NAV despite the increasingly challenging macro environment and recent banking turmoil,\u201d said Thomas Majewski, Chief Executive Officer. \u201cDuring the quarter, we targeted discounted opportunities in the secondary market and deployed $55 million of net capital into investments that we believe will generate attractive risk-adjusted returns. For the first quarter, we generated net investment income, less realized capital losses, of $0.32 per share. We also strengthened our balance sheet in the quarter by utilizing our \u2018at-the-market\u2019 program to issue over $27 million of common stock at a premium to NAV. With 100% fixed-rate financing and no maturities prior to 2028, our balance sheet has served us well as interest rates moved up and remains protected against any further rise in interest rates.\u201d<\/p>\n<p><b>FIRST QUARTER 2023 RESULTS<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNet asset value (\u201cNAV\u201d) per common share of $9.10 as of March 31, 2023, compared to $9.07 as of December 31, 2022.<\/p>\n<\/li>\n<li>\nNet investment income (\u201cNII\u201d) and realized capital losses of $0.32 per weighted average common share.<sup>1,2<\/sup> This is an increase both from $0.29 of NII and realized capital losses per weighted average common share for the quarter ended December 31, 2022, and $0.30 of NII and realized capital losses per weighted average common share for the quarter ended March 31, 2022.<\/p>\n<\/li>\n<li>\nGAAP net income (inclusive of unrealized mark-to-market gains) of $20.1 million, or $0.35 per weighted average common share.<\/p>\n<\/li>\n<li>\nReceived $42.3 million in recurring cash distributions<sup>3<\/sup> from the Company\u2019s investment portfolio, or $0.74 per weighted average common share, which was in excess of the Company\u2019s aggregate distributions on its common stock and operating costs for the quarter.<\/p>\n<\/li>\n<li>\nDeployed $55.3 million in net capital into collateralized loan obligation (\u201cCLO\u201d) equity, CLO debt, loan accumulation facilities and other investments. The weighted average effective yield of new CLO equity investments made by the Company during the quarter, which includes a provision for credit losses, was 18.6% as measured at the time of investment.<\/p>\n<\/li>\n<li>\nAs of March 31, 2023:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nThe weighted average effective yield of the Company\u2019s CLO equity portfolio (excluding called CLOs), based on amortized cost, was 15.83%. This compares to 16.23% as of December 31, 2022 and 16.78% as of March 31, 2022.<sup>4<\/sup><\/li>\n<li>\nThe weighted average expected yield of the Company\u2019s CLO equity portfolio (excluding called CLOs), based on fair market value, was 25.96%. This compares to 27.86% as of December 31, 2022 and 20.06% as of March 31, 2022.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nIssued 2.6 million shares of common stock and 2,308 shares of Series D Preferred Stock pursuant to the Company\u2019s \u201cat-the-market\u201d offering program for total net proceeds of approximately $27.2 million. The common stock issuance resulted in $0.05 per share of NAV accretion for the quarter ended March 31, 2023.<\/p>\n<\/li>\n<li>\nAs of March 31, 2023, the Company had debt and preferred equity securities outstanding which totaled approximately 33.4% of its total assets (less current liabilities).<sup>5<\/sup><\/li>\n<li>\nAs of March 31, 2023, on a look-through basis, and based on the most recent CLO trustee reports received by such date:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nThe Company had indirect exposure to approximately 1,872 unique corporate obligors.<\/p>\n<\/li>\n<li>\nThe largest look-through obligor represented 0.9% of the loans underlying the Company\u2019s CLO equity portfolio.<\/p>\n<\/li>\n<li>\nThe top-ten largest look-through obligors together represented 6.3% of the loans underlying the Company\u2019s CLO equity portfolio.<\/p>\n<\/li>\n<li>\nThe look-through weighted average spread of the loans underlying the Company\u2019s CLO equity portfolio was 3.67% as of March 2023, an increase of four basis points from 3.63% as of December 2022.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nGAAP net income was comprised of total investment income of $31.9 million and total net unrealized appreciation on investments of $7.0 million, offset by net unrealized appreciation on certain liabilities held at fair value of $5.2 million, realized capital losses of $1.1 million, financing costs and operating expenses of $12.5 million.<\/p>\n<\/li>\n<\/ul>\n<p><b>SECOND QUARTER 2023 PORTFOLIO ACTIVITY THROUGH APRIL 30, 2023 AND OTHER UPDATES<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNAV per common share is estimated to be between $8.83 and $8.93 as of April 30, 2023.<\/p>\n<\/li>\n<li>\nReceived $51.4 million of recurring cash distributions from the Company\u2019s investment portfolio. This reflects an increase of 22% from the first quarter. As of April 30, 2023, some of the Company\u2019s investments had not yet reached their payment date for the quarter.<\/p>\n<\/li>\n<li>\nDeployed $8.8 million of capital into CLO equity and loan accumulation facilities.<\/p>\n<\/li>\n<\/ul>\n<p><b>DISTRIBUTIONS<\/b><\/p>\n<p>\nAs previously announced, the Company has declared the following monthly distributions to its common stock, 6.50% Series C Term Preferred Stock due 2031 (the \u201cSeries C Term Preferred Stock\u201d) and 6.75% Series D Preferred Stock (the \u201cSeries D Preferred Stock\u201d).<sup>6<\/sup><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSecurity<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwpadl0 bwrowaltcolor1 bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAmount per Share<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nRecord Dates<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwrowaltcolor1 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPayable Dates<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCommon Stock Regular<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.14<\/p>\n<\/td>\n<td rowspan=\"4\" class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc bwvertalignm bwwidth25\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMay 11, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 12, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJuly 11, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nAugust 11, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nSeptember 11, 2023\u00a0<\/p>\n<\/td>\n<td rowspan=\"4\" class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwvertalignm bwwidth25\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMay 31, 2023<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 30, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJuly 31, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nAugust 31, 2023,<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nSeptember 29, 2023\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCommon Stock Supplemental<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.02<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries C Term Preferred Stock<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.135417<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSeries D Preferred Stock<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignm bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.140625<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>CONFERENCE CALL<\/b><\/p>\n<p>\nThe Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company\u2019s financial results for the quarter ended March 31, 2023, as well as a portfolio update.<\/p>\n<p>\nAll interested parties may participate in the conference call by dialing (877) 407-0789 (toll-free) or (201) 689-8562 (international), and referencing Conference ID 13737409 approximately 10 to 15 minutes prior to the call.<\/p>\n<p>\nA live webcast will also be available on the Company\u2019s website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com&amp;esheet=53405223&amp;newsitemid=20230523005547&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=1&amp;md5=e8424d2c098735f5ac5133901d88f240\">www.eaglepointcreditcompany.com<\/a><span class=\"bwuline\">)<\/span>. Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software.<\/p>\n<p>\nAn archived replay of the call will be available shortly afterwards until June 23, 2023. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13737409.<\/p>\n<p><b>ADDITIONAL INFORMATION<\/b><\/p>\n<p>\nThe Company has made available on the investor relations section of its website, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com&amp;esheet=53405223&amp;newsitemid=20230523005547&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=2&amp;md5=19dd2074b7889eb140a5b25d43d91d76\">www.eaglepointcreditcompany.com<\/a> (in the financial statements and reports section), its unaudited consolidated financial statements as of and for the period ended March 31, 2023. The Company has also filed this report with the Securities and Exchange Commission. The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio as of and for the quarter ended March 31, 2023.<\/p>\n<p><b>ABOUT EAGLE POINT CREDIT COMPANY<\/b><\/p>\n<p>\nThe Company is a non-diversified, closed-end management investment company. The Company\u2019s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, primarily by investing in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC.<\/p>\n<p>\nThe Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com&amp;esheet=53405223&amp;newsitemid=20230523005547&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=3&amp;md5=94c5bfd92062f5253e8afb1905b26e55\">www.eaglepointcreditcompany.com<\/a>). This information includes (1) an estimated range of the Company\u2019s net investment income (\u201cNII\u201d) and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company\u2019s NAV per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company\u2019s NII and realized capital gains or losses per share for the applicable quarter, if available.<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p><i>This press release may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company\u2019s filings with the U.S. Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.<\/i><\/p>\n<p><sup>1<\/sup> \u201cPer weighted average common share\u201d is based on the average daily number of shares of common stock outstanding for the period and \u201cper common share\u201d refers to per share of the Company\u2019s common stock.<br \/>\n<br \/><sup>2<\/sup> NII is net of distributions made on the Company\u2019s Series D Preferred Stock of $0.01 per weighted average common share.<br \/>\n<br \/><sup>3<\/sup> \u201cRecurring cash distributions\u201d refers to the quarterly distributions received by the Company from its CLO equity, CLO debt and other investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called.<br \/>\n<br \/><sup>4<\/sup> Weighted average effective yield is based on an investment\u2019s amortized cost whereas weighted average expected yield is based on an investment\u2019s fair market value as of the applicable period end as disclosed in the Company\u2019s financial statements, which is subject to change from period to period. Please refer to the Company\u2019s quarterly unaudited financial statements for additional disclosures.<br \/>\n<br \/><sup>5<\/sup> Over the long-term, management expects to operate the Company generally with leverage within a range of 25% to 35% of total assets under normal market conditions. Based on applicable market conditions at any given time, or should significant opportunities present themselves, the Company may incur leverage outside of this range, subject to applicable regulatory limits.<br \/>\n<br \/><sup>6<\/sup> The ability of the Company to declare and pay distributions on stock are subject to a number of factors, including the Company\u2019s results of operations. Distributions on stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and\/or a return of capital. The specific tax characteristics of the distributions will be reported to the Company\u2019s stockholders on Form 1099 after the end of the calendar year.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230523005547r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230523005547\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230523005547\/en\/<\/a><\/span><\/p>\n<p>\nInvestor and Media Relations:<br \/>\n<br \/>ICR<br \/>\n<br \/>203-340-8510<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:IR@EaglePointCredit.com\">IR@EaglePointCredit.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.eaglepointcreditcompany.com%2F&amp;esheet=53405223&amp;newsitemid=20230523005547&amp;lan=en-US&amp;anchor=www.eaglepointcreditcompany.com&amp;index=4&amp;md5=27553ad35210f8e8a068435518d7eb2a\">www.eaglepointcreditcompany.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Connecticut<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Asset Management Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results GREENWICH, Conn.&#8211;(BUSINESS WIRE)&#8211; Eagle Point Credit Company Inc. (the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) today announced financial results for the quarter ended March 31, 2023 and certain additional activity through April 30, 2023. \u201cOur portfolio continued to generate strong cash flows while maintaining a stable NAV despite the increasingly challenging macro environment and recent banking turmoil,\u201d said Thomas Majewski, Chief Executive Officer. \u201cDuring the quarter, we targeted discounted opportunities in the secondary market and deployed $55 million of net capital into investments that we believe will generate attractive risk-adjusted returns. For the first quarter, we generated net investment income, less realized capital losses, of $0.32 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-first-quarter-2023-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-759987","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results GREENWICH, Conn.&#8211;(BUSINESS WIRE)&#8211; Eagle Point Credit Company Inc. (the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) today announced financial results for the quarter ended March 31, 2023 and certain additional activity through April 30, 2023. \u201cOur portfolio continued to generate strong cash flows while maintaining a stable NAV despite the increasingly challenging macro environment and recent banking turmoil,\u201d said Thomas Majewski, Chief Executive Officer. \u201cDuring the quarter, we targeted discounted opportunities in the secondary market and deployed $55 million of net capital into investments that we believe will generate attractive risk-adjusted returns. For the first quarter, we generated net investment income, less realized capital losses, of $0.32 &hellip; Continue reading &quot;Eagle Point Credit Company Inc. 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Announces First Quarter 2023 Financial Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/eagle-point-credit-company-inc-announces-first-quarter-2023-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results - Market Newsdesk","og_description":"Eagle Point Credit Company Inc. Announces First Quarter 2023 Financial Results GREENWICH, Conn.&#8211;(BUSINESS WIRE)&#8211; Eagle Point Credit Company Inc. (the \u201cCompany\u201d) (NYSE: ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) today announced financial results for the quarter ended March 31, 2023 and certain additional activity through April 30, 2023. \u201cOur portfolio continued to generate strong cash flows while maintaining a stable NAV despite the increasingly challenging macro environment and recent banking turmoil,\u201d said Thomas Majewski, Chief Executive Officer. \u201cDuring the quarter, we targeted discounted opportunities in the secondary market and deployed $55 million of net capital into investments that we believe will generate attractive risk-adjusted returns. For the first quarter, we generated net investment income, less realized capital losses, of $0.32 &hellip; Continue reading \"Eagle Point Credit Company Inc. 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