Before I begin, I would like to point out that this call is being recorded. Replay information is included in our July 12, 2012 press release and is posted on our website www.fifthstreetfinance.com. Please note that this call is the property of Fifth Street Finance Corp. Any unauthorized rebroadcast of this call in any form is strictly prohibited. Today’s conference call includes forward looking statements and projections and we ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these forward-looking statements and projections.
We do not undertake to update our forward-looking statements unless required by law. To obtain copies of our latest SEC filings, please visit our website or call Investor Relations at 914-286-6855. The format for today’s call is as follows: Len will provide an overview, Bernie will provide an update on our capital structure, and Alex will summarize the financials, and then we’ll open the line for Q&A.
I will now turn the call over to our CEO, Len Tannenbaum.
Len TannenbaumThank you. We’re excited to have Dean as our Senior Vice-President of Finance and Head of Investor Relations. Dean is our formal analyst at UBS, where he covered both BDCs and mortgage rates. I encourage you to reach after him, and learn about Fifth Street BDCs. U.S. and European Union governments face an immense fiscal challenge. Its deficits continue to rise. A handful of EU governments are starting to cut spending after being required to do so, by bond markets and regulators. On the other hand, U.S. deficit spending is benefiting from record low interest rates courtesy of central bank’s quantitative easing and investor’s flight-to-quality assets. But how long will this last? Polarized Congress, White House are avoiding the difficult positions on taxes and spending. The lack of compromise is creating a dysfunctional environment in Washington, with the Senate unable to pass a proper budget in over three years. But the markets will soon focus on the upcoming fiscal cliff, which we believe will not be addressed by Congress and the White House until 2013.