BUZZ-Crescent BDC falls after Q4 results miss expectations

Shares of business development company Crescent Capital BDC CCAP.O fall as much as 6.2%; last down 3.9% at $19.21

CCAP late Wednesday posted Q4 net investment income per share of 55 cents, missing Wall Street expectations of 56 cents, according to estimates compiled by LSEG

Q4 investment income fell 7.2% to $46.4 million, missing estimates of $47.3 million

Brokerage KBW says the earnings miss was driven by lower interest income and dividend income, adding that there was a slight credit deterioration due to increase in non-accruals

CCAP is focused on originating and investing in debt of U.S. private middle market companies

As of last close, CCAP stock up 4% YTD