TheLeadLeft
Private Credit Risk: Where Are We Now?
As a long-term participant in the #CreditMarkets, we’ve learned the most intriguing times are not when things are going swimmingly for issuers or investors. Life is becomes interesting when trends begin to shift, at the inflection points. These are often apparent only in hindsight. The Great Recession, for example, ended in June, 2009 – barely […]
“The Best Place to Be” (Third of a Series)
A dictionary of Latin words, called the “Thesaurus Linguae Latinae,” was begun in 1893 by a team of German researchers. So far their successors have reached the letter R. With extraordinary luck and effort, “zythum” (an Egyptian beverage) will be reached circa 2050. For a so-called “dead language,” that seems like a lot of work…
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Chart of the Week: Rally Caps
Secondary liquid loan prices are lifting as CLO managers use conserved cash to buy higher yielding (B2/B3) assets.
Loan Stats at a Glance – 12/9/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Leveraged Loan Insight & Analysis – 12/2/2019
Defaulted loans ticked down slightly for BDCs in 3Q19 Lenders and investors are exhibiting growing concerns surrounding slowing growth and where the economy is headed. Yet non-accruals within BDC portfolios are not yet showing any accelerating signs of deterioration. As of the September 30 filing date, the share of BDC loans on non-accrual status as…
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Debtwire Middle-Market – 12/2/2019
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
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