Sixth Street BDC Cuts Its Dividend After Posting Quarterly Loss

A private credit fund managed by Sixth Street Partners lowered its dividend and reported a quarterly loss, citing credit spread widening and declining valuations.

Sixth Street Specialty Lending, a business development company that makes direct loans, reduced its quarterly dividend to 42 cents a share from 46 cents in the prior three months, it said in a statement Tuesday announcing its first-quarter results.