Marble Point Loan Financing - Dividend suspended

Marble Point Loan Financing (MPLF) is temporarily suspending its dividend due to the impact of COVID-19.The recent economic disruption has resulted in rating agencies downgrading the underlying collateral of MPLF's collateralised loan obligations (CLOs) at a pace that could trigger its need to make provisions. The heightened risk is above that modelled by MPLF and could affect cash flow. MPLF's policy is to maintain a well-funded dividend. In the last five quarters cash distributions have exceeded dividends by a good margin. With the total impact of COVID-19 uncertain, management believes it is prudent to preserve cash now, which will provide more flexibility for when dislocations in the credit market provide good investment opportunities.

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