A conversation this week between business TV anchors included the following half-joking observation: “Credit managers are saying, ‘Our 2026 outlook is baked. We’re now focusing on 2027.’” While we admire the brio behind this assertion, our confidence with market predictions – including our own – is not great. What many expected to happen this year,…
A low probability just weeks ago, chances for a 25 bp cut now seem likely. Source: The Daily Shot
M&A Gains Momentum Amid October Slowdown in Leveraged Loan Market Click here to access Bloomberg’s US Leveraged Finance Chartbook… Subscribe to Read MoreAlready a member? Log in here...
KBRA DLD Default Indices(TTM 11/18/25) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
High-yield bond market roars in September with all-time high volumes – DebtDynamics NorthAm High-yield (HY) bond issuance in September rose to the highest volume on record, according to Debtwire data. The USD 55bn issued more than doubled August’s USD 26.7bn total and was 39% more than September 2024. The last time HY bond volumes were close to…
Percentage of First Lien Loans with Affected Lender Voting Protection (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
U.S. Private Credit Exposure Rising in Sectors with Stretched Valuations Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Direct lenders’ preference for non-cyclical, stable recurring cash flows has increased their exposure to corporate sectors with higher EV/EBITDA multiples, which could exacerbate credit risks in a…
Private debt nowcast versus reported return Download PitchBook’s Report here. The Private Debt Barometer remains stable and near neutral with a score of 54, producing a nowcast of 2.8% and a desmoothed nowcast of 2.9% for Q3 2025…. Subscribe to Read MoreAlready a member? Log in here...
US syndicated LBO loan volume has reached US$84bn YTD; Additional US$25bn in pipeline US BSL loan volume backing private equity sponsored activity totaled US$969bn so far this year…. Subscribe to Read MoreAlready a member? Log in here...
North America consolidates fundraising dominance We reveal some of the preliminary findings from our PDI 200 ranking of private credit’s most successful fundraisers. Through the PDI 200, Private Debt Investor charts the biggest fundraisers in the industry over a rolling five-year period. As the private credit industry has grown, so too has this ranking, which…