Blue Owl Capital Corp. ($OBDC), a publicly traded fund for private credit company, reported a decline in net investment income (NII), net asset value, and new investments, despite a 7% fall in the company's shares after the bell, which fell over 7% before recovering to a more modest decline. The company also cut its base dividend from $0.37 to $0 0.31. Despite these setbacks, Blue Owl believes this is not necessarily the end of the world. The fund was upgraded to Baa2 by Moody's in January, despite rising concerns about the private credit sector. The declines were attributed to market volatility and investing velocity, not defaults, but non-accruals at fair value and cost, an improvement quarter-over-quarter. Despite this, Blue Owls booked $1.5 billion in new loans, an increase of 41% in origination from the previous year, the fund’s portfolio is shrinking and its leverage from 1.19x to 1-x13x.