Bank of America Initiates Coverage on Blackstone/GSO at Buy

Bank of America has published a research report on Blackstone BSL initiating coverage with a Buy rating. In the report, Bank of America writes, "We are initiating coverage of Blackstone/GSO Senior Floating Rate Fund (BSL) with a Buy rating. Despite trading at a smaller discount than peers (2.1% versus average of 7.1%), we believe that the high and stable current yield of 7.1% combined with a relatively positive 2012 outlook on the loan market and a low duration warrants a Buy rating." Blackstone closed yesterday at $18.54.