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Fitch: U.S. Leveraged Loan Default Rate Bottoms as Market Awaits Expected Defaults

Posted by Fitch Ratings on Aug 18, 2017 11:32:30 AM

The TTM U.S. institutional leveraged loan default rate is at 1.7%, down from 1.9% at end-July, marking what Fitch Ratings believes is a trough in the default rate. Fitch expects the default rate will end the year around 2.5%.

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Topics: Loans

MAIN STREET ANNOUNCES EXITS ON TWO PORTFOLIO INVESTMENTS

Posted by Sean Riddell on Jul 28, 2017 9:41:44 AM

Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) exited two portfolio investments in their entirety, Compact Power Equipment, Inc and Indianapolis Aviation Partners, LLC.

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Topics: Loans, Middle Market, BDC, business development company, Main Street, Equity

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

KCAP/Freedom 3 Joint Venture

Posted by Sean Riddell on Jul 20, 2017 5:18:00 PM

July 20th, 2017 - KCAP Financial and Freedom 3 Opportunities LLC (a subsidiary of Freedom 3 Capital LLC) embarked on an enterprise to form the new company "KCAP Freedom 3 LLC".

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Topics: Loans, BDC, KCAP, Freedom 3

Portfolio update Saratoga Investment Corp. Q2 2017

Posted by Sean Riddell on Jul 17, 2017 2:03:02 PM

Saratoga is an externally managed Business Development Company (BDC) investing in middle market companies with revenues of $8 million to $150 million and EBITDA of $2 million or greater, typically making investments of $5 million to $20 million.

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Topics: Loans, Middle Market, BDC, business development company, Saratoga


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