Credit Suisse High Yield Credit Fund

DHY

Market cap $240M

NEW YORK, July 16, 2026 /PRNewswire/ -- Credit Suisse High Yield Credit Fund (the "Fund") announced today that the Fund's Board of Trustees has approved changing the Fund's name to "UBS Asset Management High Yield Credit Fund", effective on or about September 4, 2026 (the "Name Change"). The Name Change does not require shareholder approval, and no changes are being made to the Fund's investment objective or strategies.

NEW YORK, May 15, 2026 /PRNewswire/ -- Credit Suisse High Yield Credit Fund (NYSE American: DHY) (the "Fund") today announced the preliminary results of its transferable rights offering (the "Offer"). The Offer commenced on April 21, 2026 and expired on May 14, 2026 (the "Expiration Date").

Credit Suisse High Yield Credit Fund remains a hold, trading at a 9.8% discount to NAV but facing persistent headwinds from elevated interest rates. DHY's 10.1% yield is unsustainable, as distributions exceed earnings, risking future payout cuts and continued NAV erosion. The fund's resilience against defaults is offset by limited NAV growth and a decade-long capital decline, with all returns reliant on maintaining high distributions.

NEW YORK, April 14, 2026 /PRNewswire/ -- Credit Suisse High Yield Credit Fund (NYSE American: DHY) (the "Fund") announced today that its Board of Trustees has approved the terms of the issuance of transferable rights ("Rights") to the holders of the Fund's common shares of beneficial interest, par value $0.001 per share, (the "Common Shares") as of the record date, April 21, 2026 (the "Record Date"). Holders of these Rights will be entitled to subscribe for additional Common Shares (the "Offer") at a discount to market price.

Credit Suisse High Yield Credit Fund offers leveraged exposure to below-investment-grade fixed income, with a 9.3% yield and 4.76% discount. DHY's discount is currently wider than recent levels but in line with its decade-long average, providing what I believe to be limited near-term value upside. The fund's distribution is about 90% covered by net investment income, with payout stabilization after years of declines thanks to higher yields.

The Triple-Factor CEF Report screens over 400 funds for high yield (>6.5%), strong coverage (>90%), and discount to NAV, balancing yield, sustainability, and value. Top lists include funds with widest discounts, best z-scores, highest yields, and best combined metrics, offering potential for price appreciation and enhanced yields. Explore top lists for further research; these shortlists are not final buy/sell recommendations. Always verify coverage ratios with official fund documents.

Credit Suisse High Yield Bond offers a 9% yield but faces limited growth prospects due to high leverage and elevated interest rates. DHY trades at a narrow 3.3% discount to NAV, near the high end of its historical range, making current accumulation less attractive. The fund's distributions rely heavily on net investment income, but inconsistent earnings and high-risk holdings raise concerns about long-term sustainability.

DHY offers an 8.75% yield, trades at a 2.75% discount to NAV, and has a 5-year NAV total return of 8.56%. The fund is well diversified across sectors such as basic industries, technology, and energy, with 235 issuers and active management, which contributes to its stable results over the years. Even when adjusting for leverage and removing interest expense in favor of HYG, DHY continues to show a better 10-year NAV return.

DHY offers an 8.69% yield, higher than major bond indices but lower than many peer junk bond funds, with a relatively short portfolio duration. The fund's distribution appears reasonably secure long-term, but it failed to fully cover payouts in the most recent period, warranting caution. Current valuation is less attractive than historical averages and several peers, suggesting investors should wait for a wider discount before buying.

Credit Suisse High Yield Bond (DHY) is a high-yield CEF trading at a 6.16% discount, close to its lowest in a year. DHY's portfolio includes high-yield bonds (77.18%), senior loans (14.48%), and asset-backed securities (5.74%). DHY outperforms HYG even after adjusting for leverage.