Puerto Rico Utility Bondholders Withdraw from Agreement Following Oversight Board Restructuring
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 26 2025
0mins
Should l Buy NCDL?
Source: WSJ
Investor Actions: Nuveen and BlackRock, major holders of Puerto Rico's $8.3 billion in defaulted power revenue bonds, have terminated a previous restructuring agreement.
New Cooperation: These bondholders are now collaborating with other creditors to negotiate more favorable terms after recent changes in the oversight board managing Puerto Rico's finances.
Board Changes: The Trump administration's dismissal of most oversight board members has prompted bondholders to reconsider their strategies regarding negotiations.
Legal Developments: Court documents indicate that the bondholders will not support the previously agreed-upon deal with the oversight board and are aligning with creditor groups advocating for tougher negotiation stances.
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Analyst Views on NCDL
Wall Street analysts forecast NCDL stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 13.700
Low
15.00
Averages
16.50
High
18.00
Current: 13.700
Low
15.00
Averages
16.50
High
18.00
About NCDL
Nuveen Churchill Direct Lending Corp. is a specialty finance company. The Company's investment objective is to generate attractive risk-adjusted returns through current income by investing primarily in senior secured loans to private equity-owned United States middle market companies. It invests in directly originated senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity. It primarily focuses on investments in United States middle market companies with $10 million to $100 million of EBITDA, which it considers the core middle market. Its portfolio is comprised primarily of first-lien senior secured debt and unitranche loans. It also opportunistically invests in junior capital opportunities, including second-lien loans, equity co-investments and similar equity-related securities. It is externally managed by its investment adviser, Churchill DLC Advisor LLC, and by its sub-adviser, Churchill Asset Management LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Webcast Availability: A live webcast of the earnings call will be available on the company's website, enhancing information accessibility and allowing investors and the public to stay informed about the company's financial health.
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- Conference Call Details: The company will host an earnings conference call at 10:00 AM ET on the same day, allowing interested parties to dial in at (866) 605-1826, reflecting its proactive approach to investor communication.
- Webcast Availability: The earnings call will be available via live webcast on the company's website, with a replay accessible afterward, enhancing information accessibility for stakeholders.
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- Webcast Availability: The earnings call will be available via live webcast on the company's website, with a replay accessible afterward, enhancing transparency for investors who cannot attend the live session.
- Company Background: As a specialty finance company focused on investing in senior secured loans to U.S. middle market companies, Nuveen Churchill benefits from the robust asset management capabilities of its parent company Nuveen, indicating significant future growth potential.
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