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Join Fitch Rating upcoming Webinar: The Highs and Lows of Private Credit Defaults and Recoveries
The lender-sponsor partnership, a hallmark of the private credit segment, may result in a structurally higher default rate compared to the broader leveraged loan universe. The collaborative lender-sponsor relationship means that lender concessions are common in private credit but can also result in more favorable long-term outcomes for lenders. However, when sponsors do walk away and hand control to the lenders, recovery outcomes tend to be poor.
Latest news
US Leveraged Loans Return 3.36% to Investors YTD
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.96% in August and has gained an additional 0.28% through September…
PE dry powder
The capital that is being raised is flowing overwhelmingly to the largest, most established managers.
Middle market debt held by BDCs vs High yield vs Treasury yields
The blue line represents the current dividend yield of the VanEck BDC Income ETF (BIZD), which stood at 11.7% as…