Signs of strain are emerging across the US private credit market, with unrealised losses at business development companies (BDCs) worsening in the first quarter and non-cash interest payments remaining elevated, according to regulatory filings and data reviewed by Reuters.
The trend highlights growing pressure on sponsor-backed lending portfolios as higher interest rates, weaker exit conditions and refinancing challenges continue to weigh on leveraged borrowers—many of which were financed during...
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