Logger Forwarder - Failed to get a valid channel in [60000] secs, reconnecting

I've multiple forwarder (SyslogTCPForwarder) setup but from time to time I'm getting the following error:

Failed to get a valid channel in [60000] secs, reconnecting

and ~5 seconds later, I'm getting a message that it did reconnect 

Connected to [a..b.c..d] PORT [xx] protocol [TCP]

This impact the #Event that should be normally sent by the forwarder. Anyone face the same issue? what could be the RC for the error?