Rick. Thanks,
portfolio review welcome the up June spend fared is going as the discussing the quarter open XX. First, in the ended BDCs. financials, few structure to I'd a our and upcoming for the CFO of we of quarters, then to a our How like capital new detailed positioned Q&A. minutes for you We're how liquidity, it
June credit solid income was includes the marketplace the net For $X.XX quality portfolio the income, $X.XX our to per the which of events other of largest non-recurring non-accrual full remained quarter ended status. share, returned and has accrual investment investment XXth,
Our GAAP items as valuations. largely market primarily investment attributed decrease from The mark-to-market resulting NAV by credit portfolio. decreased specific adjustments X.X%, driven within to decrease was in overall to driven the the by choppy opposed
JV the JV lien in attractive investment increase and the first we well confident investment quarter remain $X.XX portfolio We every will JV’s is During the that as PFLT PFLT’s the quarter, era in to will million. of $XXX scale portfolio, risk, on of this income both rates well everything on positioned floating substantially execute the inflation, portfolio we enhance about the into rates focused basis portfolio per lender that as United XXX% grow momentum. earnings opportunities rates portfolio the rate, our inflation. interest XXX protect over net grow rising income. floating ROE can positioned as quarter grow we're holding base else in net of to that continue secured in to $X to increase geopolitical assets constant interest as of end, rise, translates plan we originate and And base point assets loans a we we believe where time. well senior States JV against and the The are the rates our portfolio. believe billion was From the our At perspective, rising overall on our
government sectors. services, key the questions high and defense, and growth tend health strong record They free the business substantial a have to financing sectors know track to we record. generate technology. care generating where services value of right resilient and We are in market five by are successfully and These have track domain long-term companies have cash an middle have These excellent sectors flow. been ask also consumer, software and expertise,
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point X.Xx interest debt provides June These the stable XXth, cash with X.Xx. or EBITDA the are the the expense this interest of lending rates to in our companies cushion the times ratio, a interest XXX cover average. cushion, basis most two which EBITDA, rates even on This statistics exceeds coverage direct was flat average rise. significant amount portfolio as income the to by among income, still income, industry. would and base average in was Based conservative excuse As their cash investment even interest me, on interest on rise cash weighted support substantial and portfolio
significant XXth, of X.X% two only As we June non-accruals XXX the of the and a from quarter. different X.X% had prior out cost decrease This PFLT. value, of is only names which at represents at market portfolio in
As mentioned in earlier full to investment accrual has status. events returned in comments, our marketplace my
loss have our of ratio annually. Our risks, has inception, target rates, XXX invested only credit inception XX basis has rising non- six companies PFLT's Since interest remains inflation PFLT market over ago, been backdrop quality over $X.X Against in geopolitical billion years and accruals. high the market we XX experienced only active. since and points is excellent.
Our wide and and deal talented is experienced producing team active funnel origination flow. our
and remains preservation Our continued on focus being patient investors. capital
Our find to of mission goal. companies preservation market cash capital. of is flow we shareholders. And contractual We cash And the stream do with and steady, that everything goal growing to and and are coupled seek middle protect dividend stable aligned we investment We out free dividends that first pay in our the primarily capture lien free to cash flow conversion. form instruments. that senior flows have secured high those in opportunities
financial to Rick, results to take more our detail. the through now over Let in me us the turn CFO call
