Kayne Anderson Energy Development Co. (KED) Maintains Market Perform Rating

Analysts Christopher Harris and Jim Shanahan at Wells Fargo Securities have released an update on Kayne Anderson Energy Development Co. (NYSE: KED).

The company has announced that it has closed a new credit facility, which replaces a facility scheduled to mature in June this year. The size of the facility is $70 million and the cost is LIBOR plus 1.25% to LIBOR plus 2%. Analysts consider the terms of the new facility to be quite reasonable in the current environment.

Analysts at Wells Fargo Securities have maintained their Market Perform rating for Kayne Anderson Energy Development Co.