Eagle Point Credit Company Inc. (NYSE:ECC) Q1 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 10:00 am ET


Eagle Point Credit Company Inc. (NYSE:ECC) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to Eagle Point Credit Company's First Quarter 2020 Financial Results Call. [Operator Instructions] Please note, this conference is being recorded.

It is now my pleasure to turn the conference over to your host, Mr. Garrett Edson with ICR. Thank you. You may begin.

Garrett Edson

Thank you, Rob, and good morning. By now, everyone should have access to our earnings announcement and investor presentation, which was released prior to this call which may also be found on our website at eaglepointcreditcompany.com. Before we begin our formal remarks, we need to remind everyone that the matters discussed on this call include forward-looking statements or projected financial information that involve risks and uncertainties that may cause the Company's actual results to differ materially from those projected in such forward-looking statements and projected financial information.

For further information on factors that could impact the Company and the statements and projections contained herein, please refer to the Company's filings with the Securities and Exchange Commission. Each forward-looking statement and projection of financial information made during this call is based on information available to us as of the date of this call. We disclaim any obligation to update our forward-looking statements unless required by law.

A replay of this call can be accessed for 30 days via the Company's website eaglepointcreditcompany.com. Earlier today, we filed our first quarter 2020 financial statements and our first quarter investor presentation with Securities and Exchange Commission. These materials are also available on the Company's website. Financial statements can be found by following the Financial Statements and Reports link and the investor presentation can be found by following the Presentations and Events link.

I would now like to introduce Tom Majewski, Chief Executive Officer of Eagle Point Credit Company.

Thomas P Majewski

Thank you, Garrett, and welcome everyone to Eagle Point Credit Company's first quarter earnings call. If you haven't done so already, we invite you to download our investor presentation from our website, which provides additional information about the Company, including about our portfolio and underlying corporate loan obligors. For today's call, I'll provide some high level commentary on the first quarter and recent events and then turn the call over to Ken, who will walk us through the first quarter financials in more detail. I'll then return to talk a bit more about the macro environment, our strategy and provide updates on our recent activity, and of course, we will open the call to questions from participants.

Before we begin, we certainly hope that you and all of your families continue to remain safe and healthy during these quite challenging times. I also especially want to thank our entire Eagle Point team and note how proud I am of them, our team has been working incredibly hard over the past two months and done an absolutely tremendous job as our operations have transitioned to a 100% remote environment. As a result, we've been able to consistently and proactively manage our portfolio of CLO securities through what has been a very challenging