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Q2 2018 BDC Non-Accruals: Medley Capital Corp No Longer Worst Performer

Posted by David Diggins on Aug 15, 2018 5:24:17 PM

Last month we shared a list of the top 10 BDC non-accruals based on first quarter 2018 SEC filings. Now that we are mid-way through August and second quarter filings are readily available, let’s take a fresh look at the first quarter’s worst performer.

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Topics: News, download, portfolio, fair value, Fixed Income, Default Rate, BDC Filings, Loan Default Rate, Second Lien, Restructuring, Non-accruals, Distressed Debt, First Lien, BDC

Newly Distressed Loans: Anchor Glass Container Corporation

Posted by David Diggins on Aug 14, 2018 10:20:48 AM

We all know that companies in distress tend to have a harder time meeting their financial obligations, which translates to a higher probability that they will default. A company in this position has pretty straightforward options: either raise enough cash through asset sales, operating improvements, and new financing, or reduce or postpone interest and principal payments on the debt by negotiating with creditors.  

For restructuring or turnaround experts, identifying distressed companies is the first hurdle to deal sourcing and business development. Using the AdvantageData workstation, we’ve compiled a list of distressed loans that you might want to be aware of.

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Topics: download, Fixed Income, Default Rate, Loan Default Rate, Second Lien, Restructuring, Distressed Debt, Distress, market analytics, First Lien, Loans

Fitch: US High Yield TTM Default Rate Falls to Lowest Level Since March 2014

Posted by Fitch Ratings on Aug 15, 2017 12:32:19 PM

The U.S. trailing 12-month (TTM) high yield default rate dipped below 2% for the first time since March 2014, according to Fitch Ratings in a new report.

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Topics: High Yield, Loan Default Rate

Fitch: Retailers' Struggles Propel Sector Loan Default Rate Above 5%

Posted by Fitch Ratings on Jul 25, 2017 2:06:34 PM

The trailing 12-month (TTM) retail institutional leveraged loan default rate climbed above 5% in July from 2.8% at end-June, according to Fitch Ratings. This year five retailers, including True Religion Apparel and J.Crew Group this month, have defaulted on $3.8 billion of loans. The retail sector loan default rate is now well above the non-recessionary average of 1.4%.

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Topics: Loans, Loan Default Rate


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