N-2 - USD ($) | 3 Months Ended | 12 Months Ended | | | | | | | | | |
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cover [Abstract] | | | | | | | | | | | | | | | | | | | |
Entity Central Index Key | | | | | | | | | | 0000810766 | | | | | | | | | |
Amendment Flag | | | | | | | | | | false | | | | | | | | | |
Document Type | | | | | | | | | | N-CSR | | | | | | | | | |
Entity Registrant Name | | | | | | | | | | CREDIT SUISSE ASSET MANAGEMENT INCOME FUND, INC. | | | | | | | | | |
Fee Table [Abstract] | | | | | | | | | | | | | | | | | | | |
Shareholder Transaction Expenses [Table Text Block] | | | | | | | | | | Shareholder Transaction Expenses Sales Load (as a percentage of offering price) 1.50 % (1) Offering Expenses (as a percentage of offering price) 0.00 % Dividend Reinvestment Plan Fees $ 5.00 (2) (1) Represents the estimated commission with respect to the Fund’s Common Shares being sold in this offering, which the Fund will pay to JonesTrading in connection with the sales of Common Shares effected by JonesTrading in this offering. While JonesTrading is entitled to a commission of between 1.50% and 3.00% of the gross sales price for Common Shares sold, with the exact amount to be agreed upon by the parties, the Fund has assumed, for purposes of this offering, that JonesTrading will receive a commission of 1.50% of such gross sales price. This is the only sales load to be paid in connection with this offering. (2) The Fund bears ongoing expenses associated with the Plan which are included in “Other Expenses.” There is no service fee payable by Plan participants for dividend reinvestments; however, shareholders are subject to other transaction costs associated with the Plan. Actual costs will vary for each participant depending on the return and number of transactions made. For Plan participants that elect to make voluntary cash purchases, Plan participants must pay a service fee of $5.00 per transaction. Plan participants will also be charged a pro rata share of the brokerage commissions for all open market purchases ($0.03 per share as of December 2023). In addition, if a Plan participant elects by written notice to the Plan administrator to have the plan administrator sell part or all of the shares held by the Plan administrator in the participant’s account and remit the proceeds to the participant, the participant will also be charged a service fee of $5.00 for each sale and brokerage commissions of $0.03 per share (as of December 2023). See “Dividend Reinvestment and Cash Purchase Plan.” | | | | | | | | | |
Sales Load [Percent] | [1] | | | | | | | | | 1.50% | | | | | | | | | |
Dividend Reinvestment and Cash Purchase Fees | [2] | | | | | | | | | $ 5 | | | | | | | | | |
Other Transaction Expenses [Abstract] | | | | | | | | | | | | | | | | | | | |
Other Transaction Expenses [Percent] | | | | | | | | | | 0% | | | | | | | | | |
Annual Expenses [Table Text Block] | | | | | | | | | | Annual Operating Expenses (as a percentage of average net assets attributable to the Fund’s Common Shares) Management Fees (3) 0.48 % Interest Expense on Borrowed Funds (4) 2.22 % Other Expenses 0.40 % Total Annual Operating Expenses 3.10 % (3) Credit Suisse receives from the Fund, as compensation for its advisory services, a fee, computed weekly and payable quarterly at an annual rate of 0.50% of an average weekly base amount which, with respect to each quarter, is the average of the lower of (i) the stock price (market value) of the Fund’s outstanding shares and (ii) the Fund’s net assets, in each case determined as of the last trading day for each week during the relevant quarter. (4) The Fund may use leverage through borrowings, the costs of which are borne by holders of Common Shares of the Fund. The Fund currently borrows under a credit facility. | | | | | | | | | |
Management Fees [Percent] | [3] | | | | | | | | | 0.48% | | | | | | | | | |
Interest Expenses on Borrowings [Percent] | [4] | | | | | | | | | 2.22% | | | | | | | | | |
Other Annual Expenses [Abstract] | | | | | | | | | | | | | | | | | | | |
Other Annual Expenses [Percent] | | | | | | | | | | 0.40% | | | | | | | | | |
Total Annual Expenses [Percent] | | | | | | | | | | 3.10% | | | | | | | | | |
Expense Example [Table Text Block] | | | | | | | | | | Example An investor would pay the following expenses on a $1,000 investment in the Fund, assuming (1) Total Annual Operating Expenses of 3.10%, (2) a Sales Load (commission) of $15 and (3) a 5% annual return: One Year Three Years Five Years Ten Years $ 46 $ 109 $ 175 $ 351 The “Example” assumes that all dividends and other distributions are reinvested at net asset value and that the percentage amounts listed in the table above under Total Annual Operating Expenses remain the same in the years shown. The above table and example and the assumption in the example of a 5% annual return are required by regulations of the SEC that are applicable to all investment companies; the assumed 5% annual return is not a prediction of, and does not represent, the projected or actual performance of the Fund’s Common Shares. The example should not be considered a representation of past or future expenses, and the Fund’s actual expenses may be greater than or less than those shown. Moreover, the Fund’s actual rate of return may be greater or less than the hypothetical 5% return shown in the example. | | | | | | | | | |
Expense Example, Year 01 | | | | | | | | | | $ 46 | | | | | | | | | |
Expense Example, Years 1 to 3 | | | | | | | | | | 109 | | | | | | | | | |
Expense Example, Years 1 to 5 | | | | | | | | | | 175 | | | | | | | | | |
Expense Example, Years 1 to 10 | | | | | | | | | | $ 351 | | | | | | | | | |
Purpose of Fee Table , Note [Text Block] | | | | | | | | | | The following table and example are intended to assist you in understanding the various costs and expenses directly or indirectly associated with investing in Common Shares of the Fund. Some of the percentages indicated in the table below are estimates and may vary. | | | | | | | | | |
Basis of Transaction Fees, Note [Text Block] | | | | | | | | | | as a percentage of offering price | | | | | | | | | |
Other Transaction Fees Basis, Note [Text Block] | | | | | | | | | | Credit Suisse receives from the Fund, as compensation for its advisory services, a fee, computed weekly and payable quarterly at an annual rate of 0.50% of an average weekly base amount which, with respect to each quarter, is the average of the lower of (i) the stock price (market value) of the Fund’s outstanding shares and (ii) the Fund’s net assets, in each case determined as of the last trading day for each week during the relevant quarter. | | | | | | | | | |
Management Fee not based on Net Assets, Note [Text Block] | | | | | | | | | | The Fund may use leverage through borrowings, the costs of which are borne by holders of Common Shares of the Fund. The Fund currently borrows under a credit facility. | | | | | | | | | |
Financial Highlights [Abstract] | | | | | | | | | | | | | | | | | | | |
Senior Securities [Table Text Block] | | | | | | | | | | Year Ended 12/31 Aggregate Amount Outstanding Asset Coverage per $1,000 of Indebtedness 1 2023 $52,500,000 $3,974 2022 $60,500,000 $3,379 2021 $58,500,000 $4,070 2020 $56,500,000 $4,162 2019 $60,250,000 $4,021 2018 $70,750,000 $3,373 2017 $46,000,000 $5,075 2016 — — 2015 — — 2014 — — 2013 — — 1 Asset coverage means the ratio that the value of the Fund’s total assets (including amounts borrowed), minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. | | | | | | | | | |
Senior Securities Amount | | $ 52,500,000 | | | | $ 60,500,000 | | | | $ 52,500,000 | $ 58,500,000 | $ 56,500,000 | $ 60,250,000 | $ 70,750,000 | $ 46,000,000 | $ 0 | $ 0 | $ 0 | $ 0 |
Senior Securities Coverage per Unit | [5] | $ 3,974 | | | | $ 3,379 | | | | $ 3,974 | $ 4,070 | $ 4,162 | $ 4,021 | $ 3,373 | $ 5,075 | $ 0 | $ 0 | $ 0 | $ 0 |
Senior Securities, Note [Text Block] | | | | | | | | | | Senior Securities The following table sets forth information regarding the Fund’s outstanding senior securities as of the end of each of the Fund’s last ten fiscal years, as applicable. Year Ended 12/31 Aggregate Amount Outstanding Asset Coverage per $1,000 of Indebtedness 1 2023 $52,500,000 $3,974 2022 $60,500,000 $3,379 2021 $58,500,000 $4,070 2020 $56,500,000 $4,162 2019 $60,250,000 $4,021 2018 $70,750,000 $3,373 2017 $46,000,000 $5,075 2016 — — 2015 — — 2014 — — 2013 — — 1 Asset coverage means the ratio that the value of the Fund’s total assets (including amounts borrowed), minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Investment Objectives and Practices [Text Block] | | | | | | | | | | Investment Objective and Policies The investment objective of the Fund is to provide current income consistent with the preservation of capital. The Fund’s investment portfolio will not be managed for capital appreciation. The Fund’s investment objective is a fundamental policy and cannot be changed without the approval of the holders of a majority of the Fund’s outstanding voting securities. As used herein, a “majority of the Fund’s outstanding voting securities” means the lesser of (a) 67% of the shares represented at a meeting at which more than 50% of the outstanding shares are represented or (b) more than 50% of the outstanding shares. The Fund is not intended to be a complete investment program and there can be no assurance that the Fund will achieve its objectives. Under normal circumstances, the Fund invests at least 75% of its total assets in fixed income securities, such as bonds, convertible securities and preferred stocks. The Fund’s investments in fixed income securities are not subject to any rating quality limitation. The Fund primarily invests in high yield fixed income securities that are in the lower rating categories of Moody’s Investors Service, Inc. (“Moody’s”), S&P Global Ratings (“S&P”), a division of S&P Global Inc., or another nationally recognized ratings service (commonly referred to as “junk bonds”). Lower-rated securities generally provide yields superior to those of more highly-rated securities, but involve greater risks and are speculative in nature. See “Risk Factors — Lower-Rated Securities.” The Fund may also invest in securities rated single A or higher by Moody’s or S&P and unrated corporate fixed income securities. Differing yields on fixed income securities of the same maturity are a function of several factors. Higher yields are generally available from securities in the lower rating categories of recognized rating agencies, i.e., Baa or lower by Moody’s or BBB or lower by S&P. Securities ratings are based largely on the issuer’s historical financial information and the rating agencies’ investment analysis at the time of rating. Consequently, the rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition, which may be better or worse than the rating would indicate. Although Credit Suisse considers security ratings when making investment decisions for high yield securities, it performs its own investment analysis and does not rely principally on the ratings assigned by the rating services. Credit Suisse’s analysis may include consideration of the issuer’s experience and managerial strength, changing financial condition, borrowing requirements or debt maturity schedules, and its responsiveness to changes in business conditions and interest rates. It also considers relative values based on anticipated cash flow, interest or dividend coverage, asset coverage and earnings prospects. Credit Suisse bases its investment decisions in high yield securities on the results of issuer and security-specific credit analysis. Credit Suisse evaluates each issuer’s rating, cash flow, financial structure and business risk. Credit Suisse takes into account, among other things, the issuer’s financial resources, its sensitivity to economic conditions and trends, its operating history, the quality of the issuer’s management and regulatory matters. Credit Suisse evaluates the covenants of each security and pursues a strategy of broad issuer and industry diversification. The Fund currently utilizes and in the future expects to continue to utilize leverage through borrowings, including the issuance of debt securities, or through other transactions, such as reverse repurchase agreements, which have the effect of leverage. The Fund currently is leveraged through borrowings from a credit facility with State Street Bank and Trust Company. The Fund may use leverage up to 33 1/3% of its total assets (including the amount obtained through leverage). There can be no guarantee that the Fund will be able to accurately predict when the use of leverage will be beneficial. Use of leverage creates an opportunity for increased income and capital appreciation for shareholders but, at the same time, creates special risks, and there can be no assurance that a leveraging strategy will be successful during any period in which it is employed. The Fund may also invest in debt securities issued or guaranteed by the U.S. government, or by agencies or instrumentalities established or sponsored by the U.S. government, including mortgage-backed securities. Depending on market conditions, the Fund may invest a substantial portion of its assets in mortgage-backed securities. Mortgage-backed securities are collateralized by mortgages or interests in mortgages and may be issued by government or non-government Non-government The Fund may invest in loans and loan participations (collectively, “Loans”), including senior secured floating Loans (“Senior Loans”), “second lien” secured floating rate Loans (“Second Lien Loans”), and other types of secured Loans with fixed and variable interest rates. Credit Suisse may take full advantage of the entire range of maturities of fixed income securities and may adjust the average maturity of the investments held in the Fund’s portfolio from time to time, depending on its assessment of relative yields of securities of different maturities and its expectations of future changes in interest rates. It is expected that the average weighted maturity of the Fund’s investment portfolio will be 4 to 10 years. The Fund invests in debt obligations and other fixed income securities denominated in U.S. dollars, non-U.S. • debt obligations issued or guaranteed by foreign national, provincial, state, municipal or other governments with taxing authority or by their agencies or instrumentalities; • debt obligations of supranational entities; • debt obligations of the U.S. government issued in non-dollar • dollar and non-dollar The Fund may invest a portion of its assets in the securities of issuers located in emerging markets. The Fund has a fundamental policy not to invest more than 5% of the value of its total assets in securities denominated in a currency other than the U.S. dollar. In making investments in foreign and emerging market securities, Credit Suisse considers the relative growth and inflation rates of different countries. Credit Suisse considers expected changes in foreign currency exchange rates, including the prospects for central bank intervention, in determining the anticipated returns of securities denominated in foreign currencies. Credit Suisse further evaluates, among other things, foreign yield curves and regulatory and political factors, including the fiscal and monetary policies of such countries. In the past, during periods of falling U.S. exchange rates, yields available from securities denominated in foreign currencies have often been higher, in U.S. dollar terms, than those of securities denominated in U.S. dollars. Credit Suisse considers expected changes in foreign currency exchange rates in determining the anticipated returns of securities denominated in foreign currencies. The obligations of foreign governmental entities, including supranational issuers, have various kinds of government support. Obligations of foreign governmental entities include obligations issued or guaranteed by national, provincial, state or other governments with taxing power or by their agencies. These obligations may or may not be supported by the full faith and credit of a foreign government. The Fund may invest in credit default swap agreements. The Fund may enter into credit default swap agreements either as a buyer or a seller. The Fund may buy a credit default swap to attempt to mitigate the risk of default or credit quality deterioration in one or more individual holdings or in a segment of the fixed income securities market. The Fund may sell a credit default swap in an attempt to gain exposure to an underlying issuer’s credit quality characteristics without investing directly in that issuer. The “buyer” in a credit default swap is obligated to pay the “seller” an upfront payment or a periodic stream of payments over the term of the agreement, provided that no credit event on an underlying reference obligation has occurred. If a credit event occurs, the seller must pay the buyer the full notional value, or “par value,” of the reference obligation in exchange for the reference obligation. As a result of counterparty risk, certain credit default swap agreements may involve greater risks than if the Fund had invested in the reference obligation directly. There is no limit on the Fund’s ability to enter into credit default swap agreements. | | | | | | | | | |
Risk Factors [Table Text Block] | | | | | | | | | | Risk Factors This section contains a discussion of the general risks of investing in the Fund. The net asset value and market price of, and dividends paid on, the Fund’s common shares of beneficial interest (the “Shares”) will fluctuate with and be affected by, among other things, the risks more fully described below. As with any fund, there can be no guarantee that the Fund will meet its investment objective or that the Fund’s performance will be positive for any period of time. Investment and Market Risk. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably, and these fluctuations are likely to have a greater impact on the value of the Shares during periods in which the Fund utilizes a leveraged capital structure. The value of the securities in which the Fund invests will affect the value of the Shares. Your Shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions. Lower-Rated Securities Risk. the risks associated with acquiring the securities of such issuers generally are greater than is the case with higher-rated securities. For example, during an economic downturn or a sustained period of rising interest rates, issuers of lower-rated securities may be more likely to experience financial stress, especially if such issuers are highly leveraged. During periods of economic downturn, such issuers may not have sufficient revenues to meet their interest payment obligations. The issuer’s ability to service its debt obligations also may be adversely affected by specific issuer developments, the issuer’s inability to meet specific projected business forecasts or the unavailability of additional financing. The risk of loss due to default by the issuer is significantly greater for the holders of lower-rated securities because such securities may be unsecured and may be subordinate to other creditors of the issuer. Credit Risk. Interest Rate Risk. Investments in floating rate debt instruments, although generally less sensitive to interest rate changes than longer duration fixed rate instruments, may nevertheless decline in value in response to rising interest rates if, for example, the rates at which they pay interest do not rise as much, or as quickly, as market interest rates in general. Conversely, floating rate instruments will not generally increase in value if interest rates decline. Inverse floating rate debt securities also may exhibit greater price volatility than a fixed rate debt obligation with similar credit quality. To the extent the Fund holds floating rate instruments, a decrease (or, in the case of inverse floating rate securities, an increase) in market interest rates will adversely affect the income received from such securities and the net asset value of the Fund’s common shares. Leverage Risk Therefore, if the market value of the Fund’s investment portfolio declines, any leverage will result in a greater decrease in net asset value to common shareholders than if the Fund were not leveraged. Such greater net asset value decrease will also tend to cause a greater decline in the market price for the common shares. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet the applicable requirements of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the rules thereunder. Further, if at any time while the Fund has leverage outstanding it does not meet applicable asset coverage requirements, it may be required to suspend distributions to common shareholders until the requisite asset coverage is restored. Any such suspension might impair the ability of the Fund to meet the regulated investment company distribution requirements and to avoid Fund-level U.S. federal income and/or excise taxes. Under Rule 18f-4 value-at-risk. Corporate Debt Risk. non-governmental Prices of corporate debt securities fluctuate and, in particular, are subject to several key risks including, but not limited to, interest rate risk, credit risk and prepayment risk. The market value of a corporate bond may be affected by the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the market place. There is a risk that the issuers of the corporate debt securities in which the Fund may invest may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. Foreign Securities Risk. non-U.S. Emerging Market Securities Risk. The economies of individual emerging market countries may differ favorably or unfavorably from the U.S. economy in such respects as growth of gross domestic product, rate of inflation, currency depreciation, capital reinvestment, resource self-sufficiency and balance of payments position. Governments of many developing and emerging market countries have exercised and continue to exercise substantial influence over many aspects of the private sector. In some cases, the government owns or controls many companies, including some of the largest in the country. Accordingly, government actions could have a significant effect on economic conditions in an emerging market country and on market conditions, prices and yields of securities in the Fund’s portfolio. Moreover, the economies of emerging market countries generally are heavily dependent upon international trade and, accordingly, have been and may continue to be adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade. Illiquid Securities Risk. Prepayment Risk. Preferred Stock Risk. Mortgage-Backed Securities Risk. due to refinancing of mortgages as interest rates decline. In addition, like other debt securities, the values of mortgage-backed securities will generally fluctuate in response to changes in interest rates Senior Loans Risk. non-payment Like other debt instruments, Senior Loans are subject to the risk of non-payment non-payment non-payment Transactions in Senior Loans may settle on a delayed basis, resulting in the proceeds from the sale of Senior Loans not being readily available to make additional investments or to meet the Fund’s redemption obligations. To the extent the extended settlement process gives rise to short-term liquidity needs, the Fund may hold cash, sell investments or temporarily borrow from banks or other lenders. Second Lien and Other Secured Loans Risk Conflict of Interest Risk. Derivatives Risk. • an imperfect correlation between the price of derivatives and the movement of the securities prices, interest rates or currency exchange rates being hedged or replicated; • the possible absence of a liquid secondary market for any particular derivative at any time; • the potential loss if the counterparty to the transaction does not perform as promised; • the possible need to defer closing out certain positions to avoid adverse tax consequences, as well as the possibility that derivative transactions may result in acceleration of gain, deferral of losses or a change in the character of gain realized; • the risk that the financial intermediary “manufacturing” the over-the-counter • because certain derivatives are “manufactured” by financial institutions, the risk that the Fund may develop a substantial exposure to financial institution counterparties; and • the risk that a full and complete appreciation of the complexity of derivatives and how future value is affected by various factors including changing interest rates, exchange rates and credit quality is not attained. There is no guarantee that derivatives will provide successful results and any success in their use depends on a variety of factors including the ability of Credit Suisse to predict correctly the direction of interest rates, securities prices, currency exchange rates and other factors. Credit Default Swap Risk. Counterparty Risk. Valuation Risk. “over-the-counter” trading, the valuation of bonds may carry more risk than that of common stock. Uncertainties in the conditions of the financial market, unreliable reference data, lack of transparency and inconsistency of valuation models and processes may lead to inaccurate asset pricing. As a result, the Fund may be subject to the risk that when a security is sold in the market, the amount received by the Fund is less than the value of such security carried on the Fund’s books. Market Price, Discount and Net Asset Value of Shares. closed-end Potential Yield Reduction. Market Risk Bonds and other fixed income securities generally involve less market risk than stocks and commodities. However, the risk of bonds can vary significantly depending upon factors such as the issuer’s creditworthiness and a bond’s maturity. The bonds of some companies may be riskier than the stocks of others. An outbreak of an infectious coronavirus (COVID-19) COVID-19 COVID-19 COVID-19 pre-existing Anti-Takeover Provisions. By-laws | | | | | | | | | |
Share Price [Table Text Block] | | | | | | | | | | Trading and Net Asset Value Information The following table shows for the quarters indicated: (1) the high and low sale prices of the Fund’ shares of common stock (“Common Shares”) at the close of trading on the NYSE American; (2) the high and low NAV per Common Share; and (3) the high and low premium/(discount) to NAV at which the Fund’s Common Shares were trading at the close of trading (as a percentage of NAV). Price Net Asset Value Premium/(Discount) To Net Asset Value Fiscal Quarter Ended High Low High Low High Low March 31, 2022 $ 3.50 $ 2.94 $ 3.43 $ 3.18 2.04 % (8.41 )% June 30, 2022 $ 3.07 $ 2.59 $ 3.24 $ 2.79 (2.15 )% (9.44 )% September 30, 2022 $ 3.00 $ 2.65 $ 3.01 $ 2.69 3.15 % (4.48 )% December 31, 2022 $ 2.80 $ 2.41 $ 2.81 $ 2.67 1.82 % (10.41 )% March 31, 2023 $ 2.80 $ 2.46 $ 2.90 $ 2.73 0.00 % (10.55 )% June 30, 2023 $ 3.05 $ 2.57 $ 2.85 $ 2.79 8.16 % (8.87 )% September 30, 2023 $ 3.05 $ 2.59 $ 2.89 $ 2.82 6.27 % (8.48 )% December 31, 2023 $ 3.13 $ 2.51 $ 2.96 $ 2.75 5.74 % (8.73 )% On December 31, 2023, the per Common Share NAV was $2.96 and the per Common Share market price was $3.13, representing a 5.74% premium over such NAV. Common Shares of the Fund have historically traded at both a premium and discount to NAV. | | | | | | | | | |
Investment and Market Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Investment and Market Risk. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably, and these fluctuations are likely to have a greater impact on the value of the Shares during periods in which the Fund utilizes a leveraged capital structure. The value of the securities in which the Fund invests will affect the value of the Shares. Your Shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions. | | | | | | | | | |
Lower Rated Securities Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Lower-Rated Securities Risk. the risks associated with acquiring the securities of such issuers generally are greater than is the case with higher-rated securities. For example, during an economic downturn or a sustained period of rising interest rates, issuers of lower-rated securities may be more likely to experience financial stress, especially if such issuers are highly leveraged. During periods of economic downturn, such issuers may not have sufficient revenues to meet their interest payment obligations. The issuer’s ability to service its debt obligations also may be adversely affected by specific issuer developments, the issuer’s inability to meet specific projected business forecasts or the unavailability of additional financing. The risk of loss due to default by the issuer is significantly greater for the holders of lower-rated securities because such securities may be unsecured and may be subordinate to other creditors of the issuer. | | | | | | | | | |
Credits Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Credit Risk. | | | | | | | | | |
Interests Rate Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Interest Rate Risk. Investments in floating rate debt instruments, although generally less sensitive to interest rate changes than longer duration fixed rate instruments, may nevertheless decline in value in response to rising interest rates if, for example, the rates at which they pay interest do not rise as much, or as quickly, as market interest rates in general. Conversely, floating rate instruments will not generally increase in value if interest rates decline. Inverse floating rate debt securities also may exhibit greater price volatility than a fixed rate debt obligation with similar credit quality. To the extent the Fund holds floating rate instruments, a decrease (or, in the case of inverse floating rate securities, an increase) in market interest rates will adversely affect the income received from such securities and the net asset value of the Fund’s common shares. | | | | | | | | | |
Leverage Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Leverage Risk Therefore, if the market value of the Fund’s investment portfolio declines, any leverage will result in a greater decrease in net asset value to common shareholders than if the Fund were not leveraged. Such greater net asset value decrease will also tend to cause a greater decline in the market price for the common shares. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet the applicable requirements of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the rules thereunder. Further, if at any time while the Fund has leverage outstanding it does not meet applicable asset coverage requirements, it may be required to suspend distributions to common shareholders until the requisite asset coverage is restored. Any such suspension might impair the ability of the Fund to meet the regulated investment company distribution requirements and to avoid Fund-level U.S. federal income and/or excise taxes. Under Rule 18f-4 value-at-risk. | | | | | | | | | |
Corporate Debt Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Corporate Debt Risk. non-governmental Prices of corporate debt securities fluctuate and, in particular, are subject to several key risks including, but not limited to, interest rate risk, credit risk and prepayment risk. The market value of a corporate bond may be affected by the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the market place. There is a risk that the issuers of the corporate debt securities in which the Fund may invest may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. | | | | | | | | | |
Foreign Securities Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Foreign Securities Risk. non-U.S. | | | | | | | | | |
Emerging Market Securities Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Emerging Market Securities Risk. The economies of individual emerging market countries may differ favorably or unfavorably from the U.S. economy in such respects as growth of gross domestic product, rate of inflation, currency depreciation, capital reinvestment, resource self-sufficiency and balance of payments position. Governments of many developing and emerging market countries have exercised and continue to exercise substantial influence over many aspects of the private sector. In some cases, the government owns or controls many companies, including some of the largest in the country. Accordingly, government actions could have a significant effect on economic conditions in an emerging market country and on market conditions, prices and yields of securities in the Fund’s portfolio. Moreover, the economies of emerging market countries generally are heavily dependent upon international trade and, accordingly, have been and may continue to be adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade. | | | | | | | | | |
Illiquid Securities Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Illiquid Securities Risk. | | | | | | | | | |
Prepayments Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Prepayment Risk. | | | | | | | | | |
Preferred Stock Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Preferred Stock Risk. | | | | | | | | | |
Mortgage Backed Securities Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Mortgage-Backed Securities Risk. due to refinancing of mortgages as interest rates decline. In addition, like other debt securities, the values of mortgage-backed securities will generally fluctuate in response to changes in interest rates | | | | | | | | | |
Senior Loans Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Senior Loans Risk. non-payment Like other debt instruments, Senior Loans are subject to the risk of non-payment non-payment non-payment Transactions in Senior Loans may settle on a delayed basis, resulting in the proceeds from the sale of Senior Loans not being readily available to make additional investments or to meet the Fund’s redemption obligations. To the extent the extended settlement process gives rise to short-term liquidity needs, the Fund may hold cash, sell investments or temporarily borrow from banks or other lenders. | | | | | | | | | |
Second Lien and Other Secured Loans Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Second Lien and Other Secured Loans Risk | | | | | | | | | |
Conflict of Interest Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Conflict of Interest Risk. | | | | | | | | | |
Derivatives Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Derivatives Risk. • an imperfect correlation between the price of derivatives and the movement of the securities prices, interest rates or currency exchange rates being hedged or replicated; • the possible absence of a liquid secondary market for any particular derivative at any time; • the potential loss if the counterparty to the transaction does not perform as promised; • the possible need to defer closing out certain positions to avoid adverse tax consequences, as well as the possibility that derivative transactions may result in acceleration of gain, deferral of losses or a change in the character of gain realized; • the risk that the financial intermediary “manufacturing” the over-the-counter • because certain derivatives are “manufactured” by financial institutions, the risk that the Fund may develop a substantial exposure to financial institution counterparties; and • the risk that a full and complete appreciation of the complexity of derivatives and how future value is affected by various factors including changing interest rates, exchange rates and credit quality is not attained. There is no guarantee that derivatives will provide successful results and any success in their use depends on a variety of factors including the ability of Credit Suisse to predict correctly the direction of interest rates, securities prices, currency exchange rates and other factors. | | | | | | | | | |
Credit Default Swap Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Credit Default Swap Risk. | | | | | | | | | |
Counterparty Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Counterparty Risk. | | | | | | | | | |
Valuation Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Valuation Risk. “over-the-counter” trading, the valuation of bonds may carry more risk than that of common stock. Uncertainties in the conditions of the financial market, unreliable reference data, lack of transparency and inconsistency of valuation models and processes may lead to inaccurate asset pricing. As a result, the Fund may be subject to the risk that when a security is sold in the market, the amount received by the Fund is less than the value of such security carried on the Fund’s books. Market Price, Discount and Net Asset Value of Shares. closed-end Potential Yield Reduction. | | | | | | | | | |
Market Risk [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Market Risk Bonds and other fixed income securities generally involve less market risk than stocks and commodities. However, the risk of bonds can vary significantly depending upon factors such as the issuer’s creditworthiness and a bond’s maturity. The bonds of some companies may be riskier than the stocks of others. An outbreak of an infectious coronavirus (COVID-19) COVID-19 COVID-19 COVID-19 pre-existing | | | | | | | | | |
Anti Takeover Provisions [Member] | | | | | | | | | | | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Risk [Text Block] | | | | | | | | | | Anti-Takeover Provisions. By-laws | | | | | | | | | |
Common Shares [Member] | | | | | | | | | | | | | | | | | | | |
Other Annual Expenses [Abstract] | | | | | | | | | | | | | | | | | | | |
Basis of Transaction Fees, Note [Text Block] | | | | | | | | | | as a percentage of average net assets attributable to the Fund’s Common Shares | | | | | | | | | |
General Description of Registrant [Abstract] | | | | | | | | | | | | | | | | | | | |
Lowest Price or Bid | | 2.51 | $ 2.59 | $ 2.57 | $ 2.46 | 2.41 | $ 2.65 | $ 2.59 | $ 2.94 | | | | | | | | | | |
Highest Price or Bid | | 3.13 | 3.05 | 3.05 | 2.8 | 2.8 | 3 | 3.07 | 3.5 | | | | | | | | | | |
Lowest Price or Bid, NAV | | 2.75 | 2.82 | 2.79 | 2.73 | 2.67 | 2.69 | 2.79 | 3.18 | | | | | | | | | | |
Highest Price or Bid, NAV | | $ 2.96 | $ 2.89 | $ 2.85 | $ 2.9 | $ 2.81 | $ 3.01 | $ 3.24 | $ 3.43 | | | | | | | | | | |
Highest Price or Bid, Premium (Discount) to NAV [Percent] | | 5.74% | 6.27% | 8.16% | 0% | 1.82% | 3.15% | (2.15%) | 2.04% | | | | | | | | | | |
Lowest Price or Bid, Premium (Discount) to NAV [Percent] | | (8.73%) | (8.48%) | (8.87%) | (10.55%) | (10.41%) | (4.48%) | (9.44%) | (8.41%) | | | | | | | | | | |
Share Price | | $ 3.13 | | | | | | | | $ 3.13 | | | | | | | | | |
NAV Per Share | | $ 2.96 | | | | | | | | $ 2.96 | | | | | | | | | |
Latest Premium (Discount) to NAV [Percent] | | | | | | | | | | 5.74% | | | | | | | | | |
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[1]Represents the estimated commission with respect to the Fund’s Common Shares being sold in this offering, which the Fund will pay to JonesTrading in connection with the sales of Common Shares effected by JonesTrading in this offering. While JonesTrading is entitled to a commission of between 1.50% and 3.00% of the gross sales price for Common Shares sold, with the exact amount to be agreed upon by the parties, the Fund has assumed, for purposes of this offering, that JonesTrading will receive a commission of 1.50% of such gross sales price. This is the only sales load to be paid in connection with this offering.[2]The Fund bears ongoing expenses associated with the Plan which are included in “Other Expenses.” There is no service fee payable by Plan participants for dividend reinvestments; however, shareholders are subject to other transaction costs associated with the Plan. Actual costs will vary for each participant depending on the return and number of transactions made. For Plan participants that elect to make voluntary cash purchases, Plan participants must pay a service fee of $5.00 per transaction. Plan participants will also be charged a pro rata share of the brokerage commissions for all open market purchases ($0.03 per share as of December 2023). In addition, if a Plan participant elects by written notice to the Plan administrator to have the plan administrator sell part or all of the shares held by the Plan administrator in the participant’s account and remit the proceeds to the participant, the participant will also be charged a service fee of $5.00 for each sale and brokerage commissions of $0.03 per share (as of December 2023). See “Dividend Reinvestment and Cash Purchase Plan.”[3]Credit Suisse receives from the Fund, as compensation for its advisory services, a fee, computed weekly and payable quarterly at an annual rate of 0.50% of an average weekly base amount which, with respect to each quarter, is the average of the lower of (i) the stock price (market value) of the Fund’s outstanding shares and (ii) the Fund’s net assets, in each case determined as of the last trading day for each week during the relevant quarter.[4]The Fund may use leverage through borrowings, the costs of which are borne by holders of Common Shares of the Fund. The Fund currently borrows under a credit facility.[5]Asset coverage means the ratio that the value of the Fund’s total assets (including amounts borrowed), minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. | |