US BDC Robust Unsecured Debt Issuance Reduces Funding, Liquidity Risk
Strong unsecured debt issuance has continued for rated business development companies (BDCs) in 2025 amid favorable market conditions that have materially reduced refinancing risk and signaled a further deepening of the investor base. The best-positioned BDCs benefit from diverse funding profiles, ample liquidity, scale, strong underwriting and workout capabilities and appropriate asset coverage cushions.
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