MainStay MacKay DefinedTerm Municipal Opportunities Fund Balance Sheet Health
Financial Health criteria checks 4/6
MainStay MacKay DefinedTerm Municipal Opportunities Fund has a total shareholder equity of $468.0M and total debt of $190.5M, which brings its debt-to-equity ratio to 40.7%. Its total assets and total liabilities are $661.5M and $193.6M respectively. MainStay MacKay DefinedTerm Municipal Opportunities Fund's EBIT is $21.5M making its interest coverage ratio 2.1. It has cash and short-term investments of $7.1M.
Key information
40.7%
Debt to equity ratio
US$190.51m
Debt
| Interest coverage ratio | 2.1x |
| Cash | US$7.13m |
| Equity | US$467.97m |
| Total liabilities | US$193.57m |
| Total assets | US$661.54m |
Recent financial health updates
No updates
Recent updates
MMD: A Solid Muni Fund That Is Worth Putting On A Watchlist
Oct 03MainStay DefinedTerm Municipal Opportunities Fund declares $0.085 dividend
Jan 03MainStay DefinedTerm Municipal Opportunities Fund declares $0.085 dividend
Oct 03MainStay DefinedTerm Municipal Opportunities Fund declares $0.085 dividend
Jul 01MMD: Strong Muni Performer To Lock In Higher Yields
Apr 27MainStay DefinedTerm Municipal Opportunities Fund declares $0.085 dividend
Jan 04MainStay DefinedTerm Municipal Opportunities Fund declares $0.085 dividend
Nov 02Financial Position Analysis
Short Term Liabilities: MMD's short term assets ($17.0M) exceed its short term liabilities ($3.0M).
Long Term Liabilities: MMD's short term assets ($17.0M) do not cover its long term liabilities ($190.5M).
Debt to Equity History and Analysis
Debt Level: MMD's net debt to equity ratio (39.2%) is considered satisfactory.
Reducing Debt: MMD's debt to equity ratio has reduced from 57.7% to 40.7% over the past 5 years.
Debt Coverage: MMD's debt is well covered by operating cash flow (74.2%).
Interest Coverage: MMD's interest payments on its debt are not well covered by EBIT (2.1x coverage).