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Prospect Capital Downgraded To Sell-Equivalent At Raymond James, Sees 30% Downside Risk

Raymond James’ Robert Dodd downgraded the rating for Prospect Capital Corporation (NASDAQ: PSEC) from Market Perform to Underperform, citing concerns surrounding the probability of NAV declines in the future and uncertainty around the sustainability of taxable income. He also expressed concern over “the secondary impact of such adjustments to their regulatory leverage levels.”

Prospect Capital reported its F2Q16 NII per share at $0.28, beating the...