ASSET COVERAGE RATIOS
The 1940 Act requires investment companies to have minimum debt and total leverage (debt and preferred stock) coverage ratios of 300% and 200%, respectively, at the time of a common stock dividend declaration. The Company’s borrowing agreements contain similar restrictions and require it to have a minimum coverage ratio of 300% as of the last day of each month.
Date (Close of Business) |
Asset Coverage Ratios under the Investment Company Act of 1940 (“1940 Act”) | ||
With respect to senior securities representing indebtedness (300% minimum) |
With respect to total leverage |
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*The pro forma ratio assumes KYN’s outstanding debt balance is reduced by cash plus (a) dividends and distributions receivable from portfolio investments and (b) receivable for securities sold less (y) accrued operating expenses and (z) payable for securities purchased on KYN’s statement of assets and liabilities as of such measurement date.
**The pro forma ratio assumes that the common dividend has been paid and KYN’s outstanding debt balance is reduced by cash plus (a) dividends and distributions receivable from portfolio investments and (b) receivable for securities sold less (y) accrued operating expenses and (z) payable for securities purchased on KYN’s statement of assets and liabilities as of such measurement date.
BALANCE SHEET
Balance Sheet as of April 30, 2009 (Unaudited) – See press release
(PDF)
Balance Sheet as of February 28, 2009 (Unaudited) – See Q1 2009 Quarterly Report (PDF)
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