Average Marks (FMV / Par) on Non-Accrual Drawn Loans Increased for 3 of the Top 5 Sectors in Q3’25 Click here to request access to the full analysis…. Subscribe to Read MoreAlready a member? Log in here...
US Private Credit Defaults Hit New Highs but Losses Remain Contained Click here to learn more. At 9.2%, the default rate within Fitch’s privately monitored ratings (PMR) portfolio exceeded the default rate recorded for Fitch’s broadly syndicated loan (BSL) universe which reached 4.5% for the year. Fitch continues to believe the default rate in the…
PE exit activity Download PitchBook’s Report here. US PE exit activity is now clearly out of the woods, securing not only a second consecutive year of growth in 2025 but also a rebound that ranks second only to the record levels seen in 2021…. Subscribe to Read MoreAlready a member? Log in here...
US primary market loan yields increase to their highest level since April 2025 The average primary market yield, assuming a three-year term to repayment on first-lien institutional term loan Bs, has widened to 8.09% so far in March, driven by higher pricing across single-B rated credits…. Subscribe to Read MoreAlready a member? Log in here...
M&A Activity Provides Support to Stalling US Leveraged Loan Market Click here to access Bloomberg’s US Leveraged Finance Chartbook The US leveraged loan market has struggled to regain momentum following a sharp slowdown in issuance in February, as market volatility continues to weigh on activity. While conditions have shown modest improvement, with $12.1b brought to…
LPs are choosing to stay positive For investors in private credit wanting to build up their allocations, criticism of the asset class is a sideshow – for now at least. “LPs shutting out the noise” was the theme of a recently published Private Debt Investor feature, which reflected on the positive sentiments of limited partners…
U.S. Sub-Investment Grade SaaS Companies – QRT Revenue Growth YoY Click here to watch Octus Webniar: Investor’s Guide to Navigating AI Fallout on the Credit Markets… Subscribe to Read MoreAlready a member? Log in here...
US Private Credit Defaults Hit New Highs but Losses Remain Contained Click here to learn more. The default rate in Fitch Ratings’ privately monitored ratings (PMR) portfolio hit 9.2% in 2025, a new high, up significantly from 8.1% in 2024. Defaults were not concentrated in any particular sector, though Fitch recorded four defaults in the…
Multiples on BSL-funded LBOs Download PitchBook’s Report here. Debt capacity limitations have meant sponsors are pressured to deploy more equity capital to fund their portfolio investments…. Subscribe to Read MoreAlready a member? Log in here...
US LevFin issuance slips in February amid softer, more volatile market backdrop US LevFin issuance topped US$160bn in February, although business slipped 11% from January amid a noticeably weaker market backdrop. Bank loans came back following a somewhat slower month (US$50bn) and high-yield bonds matched January’s issuance (US$30bn), while institutional loans, which drive the majority…