DFX Intelligence

Data Factory

Trident Maritime Systems, Inc

sponsor (inference, pe portfolio stem): J.F. Lehman and Company LLC

Search this name across graphsid dfx:pc:944cc5f6-b730-f22f-6e3b-d9ca1135f5d2

Data as of Jun 30, 2026 (this record's last observation) from The BDC tape; Adviser-reported credit funds; Deal parties; Pending. Page built Sep 21, 2026, 9:29 AM UTC and rebuilt at most every 15 minutes.

Relationships: 1
Dated events: 40
On other graphs: 1
Observed: Dec 31, 2021 to Jun 30, 2026
6 observations

Right now

one signal names this record (all private credit signals)

#1NewSignalPrivate creditCredit deterioration

Trident Maritime Systems, Inc: lender marks fell to 91 cents across 4 BDC lenders

State NEW at the 2023-09-30 quarter end, readable when the filing landed on 2023-11-09.

Exposure: $39.8M knownfunded debt at cost held by BDC lenders
Who this matters to: Private credit lenders, PE sponsors +3
Historical: 2.38x non accrual, 139d median

Barings Private Credit Corp · lender Barings BDC, Inc. · lender Barings Capital Investment Corp · lender Monroe Capital Income Plus Corp · lender

Credit Attention / portfolio monitorSep 30, 2023 · seen 4 days ago

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Private Equityidentity

Trident Maritime Systems

name equal in sponsor portfolio · confidence 95% · family precision 100%

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Lenders: 5
BDCs: 4
Facilities: 3
Principal, latest: $35.0Mpieces as filed; a lower bound
Fair value, latest: $30.2M
Mark ratio: 87%fair value over cost, latest
Next maturity: Feb 26, 2027
Maturing inside 12 months: $1.5Mtagged maturities only
First on a schedule: Dec 31, 2021
Last on a schedule: Jun 30, 2026
Sponsor basis: pe_portfolio_steminferencedeal party is a fact; a portfolio stem or a Form D signer is an inference

Facilities

one facility is one borrower, one kind and one lien; its size is the sum of the BDC pieces the tape can see, a lower bound, never the commitment

Kind	Lien	Size, lower bound	Fair value	Maturity	Maturity basis	Spread	PIK	Lenders	BDCs	Status	Last seen
Term loan	First lien	$34.8M	$30.1M	Feb 26, 2027	Html schedule	0	0	4	5	Unknown	Jun 30, 2026
revolver	First lien	$167,000	$134,000	Feb 26, 2027	Html schedule	0	0	1	2	Unknown	Jun 30, 2026
revolver	unknown	n/a	n/a	n/a	n/a	n/a	n/a	1	1	Unknown	Jun 30, 2026

Lenders holding it now

each BDC's own pieces on its latest schedule, folded to one row per lender; every amount is that BDC's piece as filed, so a sum is a lower bound; 8 rows folded into 5

BDC	Pieces	Principal	Fair value	Unfunded	Nearest maturity	As of
Barings Capital Investment Corp	1	$13.9M	$11.9M	$0	n/a	Jun 30, 2026
Barings BDC, Inc.	1	$12.2M	$10.5M	$0	n/a	Jun 30, 2026
Barings Private Credit Corp	1	$7.4M	$6.4M	$0	n/a	Jun 30, 2026
MONROE CAPITAL Corp	2	$1.7M	$1.6M	$0	n/a	Dec 31, 2025
Monroe Capital Income Plus Corp	3	$1.5M	$1.4M	$24,000	Feb 26, 2027	Jun 30, 2026

Relationships

Sponsors (1)

← J.F. Lehman and Company LLCSponsor of borrowersPE portfolio stem
Sep 13, 2026 to presentinferenceDFX's own graph

Dated events

16 bookkeeping events (roster, classification and holdings changes) folded below

Scheduled
Feb 26, 2027
Facility matures inside 24 months
Trident Maritime Systems, Inc term loan (first lien) matures 2027-02-26 (inside 12 months; $34.8M held by 5 BDCs)
J.F. Lehman and Company LLCBDC schedule of investments
$34.8M
Scheduled
Feb 26, 2027
Facility matures inside 24 months
Trident Maritime Systems, Inc term loan (first lien) matures 2027-02-26 (inside 18 months; $34.8M held by 5 BDCs)
J.F. Lehman and Company LLCBDC schedule of investments
$34.8M
Scheduled
Feb 26, 2027
Facility matures inside 24 months
Trident Maritime Systems, Inc term loan (first lien) matures 2027-02-26 (inside 24 months; $34.8M held by 5 BDCs)
J.F. Lehman and Company LLCBDC schedule of investments
$34.8M
Scheduled
Feb 26, 2027
Facility matures inside 24 months
Trident Maritime Systems, Inc revolver (first lien) matures 2027-02-26 (inside 12 months; $.2M held by 2 BDCs)
J.F. Lehman and Company LLCBDC schedule of investments
$167,000
Scheduled
Feb 26, 2027
Facility matures inside 24 months
Trident Maritime Systems, Inc revolver (first lien) matures 2027-02-26 (inside 18 months; $.2M held by 2 BDCs)
J.F. Lehman and Company LLCBDC schedule of investments
$167,000
Scheduled
Feb 26, 2027
Facility matures inside 24 months
Trident Maritime Systems, Inc revolver (first lien) matures 2027-02-26 (inside 24 months; $.2M held by 2 BDCs)
J.F. Lehman and Company LLCBDC schedule of investments
$167,000
Occurred
Jun 30, 2026
BDC joined a facility
Monroe Capital Income Plus Corp joins Trident Maritime Systems, Inc term loan (first lien) held by 4 other BDCs
BDC schedule of investments
$1.3M
Occurred
Mar 31, 2026
Coupon changed
Trident Maritime Systems, Inc term loan: spread moved from 1.00% to 5.50%
BDC schedule of investments
$39.1M
Occurred
Mar 31, 2026
Spread increased
Barings Private Credit Corp: spread increased in Trident Maritime Systems, Inc (1.00% to 5.50%)
BDC schedule of investmentsobserved 4 months ago
0.055 usd
Occurred
Mar 31, 2026
Spread increased
Barings BDC, Inc.: spread increased in Trident Maritime Systems, Inc (1.00% to 5.50%)
BDC schedule of investmentsobserved 4 months ago
0.055 usd
Occurred
Mar 31, 2026
Spread increased
Barings Capital Investment Corp: spread increased in Trident Maritime Systems, Inc (1.00% to 5.50%)
BDC schedule of investmentsobserved 4 months ago
0.055 usd
Occurred
Sep 30, 2025
PIK interest increased
Trident Maritime Systems, Inc term loan: PIK interest rose from 2.00% to 6.80%
BDC schedule of investments
$42.4M
Occurred
Sep 30, 2025
Coupon changed
Trident Maritime Systems, Inc term loan: spread moved from 5.50% to 1.00%
BDC schedule of investments
$42.4M
Occurred
Sep 30, 2025
Spread decreased
Barings Capital Investment Corp: spread decreased in Trident Maritime Systems, Inc (5.50% to 1.00%)
BDC schedule of investmentsobserved 10 months ago
0.01 usd
Occurred
Sep 30, 2025
PIK interest increased
Barings Capital Investment Corp: pik increased in Trident Maritime Systems, Inc (2.00% to 6.80%)
BDC schedule of investmentsobserved 10 months ago
0.068 usd
Occurred
Sep 30, 2025
PIK interest increased
Barings Private Credit Corp: pik increased in Trident Maritime Systems, Inc (2.00% to 6.80%)
BDC schedule of investmentsobserved 10 months ago
0.068 usd
Occurred
Sep 30, 2025
PIK interest increased
Barings BDC, Inc.: pik increased in Trident Maritime Systems, Inc (2.00% to 6.80%)
BDC schedule of investmentsobserved 10 months ago
0.068 usd
Occurred
Sep 30, 2025
Spread decreased
Barings BDC, Inc.: spread decreased in Trident Maritime Systems, Inc (5.50% to 1.00%)
BDC schedule of investmentsobserved 10 months ago
0.01 usd
Occurred
Sep 30, 2025
Spread decreased
Barings Private Credit Corp: spread decreased in Trident Maritime Systems, Inc (5.50% to 1.00%)
BDC schedule of investmentsobserved 10 months ago
0.01 usd
Occurred
Mar 31, 2025
PIK interest added
Trident Maritime Systems, Inc term loan: PIK interest of 2.00% appears (was cash pay)
BDC schedule of investments
$41.9M
Occurred
Mar 31, 2025
PIK interest added
Barings Private Credit Corp: pik added in Trident Maritime Systems, Inc (0.00% to 2.00%)
BDC schedule of investmentsobserved 1.4 years ago
0.02 usd
Occurred
Mar 31, 2025
PIK interest added
Barings BDC, Inc.: pik added in Trident Maritime Systems, Inc (0.00% to 2.00%)
BDC schedule of investmentsobserved 1.4 years ago
0.02 usd
Occurred
Mar 31, 2025
PIK interest added
Barings Capital Investment Corp: pik added in Trident Maritime Systems, Inc (0.00% to 2.00%)
BDC schedule of investmentsobserved 1.4 years ago
0.02 usd
Occurred
Dec 31, 2023
Mark recovered
Trident Maritime Systems, Inc term loan: marked from 91 to 99 cents on cost
BDC schedule of investments
$42.8M

Show 16 bookkeeping events

Occurred
Jun 30, 2026
Monroe Capital Income Plus Corp: new position in Trident Maritime Systems, Inc ($1.3M principal)
Occurred
Jun 30, 2026
Barings BDC, Inc.: principal decreased in Trident Maritime Systems, Inc ($12.2M principal)
Occurred
Jun 30, 2026
Barings Capital Investment Corp: principal decreased in Trident Maritime Systems, Inc ($13.9M principal)
Occurred
Jun 30, 2026
Monroe Capital Income Plus Corp: new position in Trident Maritime Systems, Inc
Occurred
Jun 30, 2026
Monroe Capital Income Plus Corp: new position in Trident Maritime Systems, Inc ($.2M principal)
Occurred
Jun 30, 2026
Barings Private Credit Corp: principal decreased in Trident Maritime Systems, Inc ($7.4M principal)
Occurred
Mar 31, 2026
Barings Capital Investment Corp: principal decreased in Trident Maritime Systems, Inc ($16.2M principal)
Occurred
Dec 31, 2025
Barings Private Credit Corp: principal decreased in Trident Maritime Systems, Inc ($8.7M principal)
Occurred
Dec 31, 2025
MONROE CAPITAL Corp: new position in Trident Maritime Systems, Inc ($1.7M principal)
Occurred
Dec 31, 2025
Barings BDC, Inc.: principal decreased in Trident Maritime Systems, Inc ($14.4M principal)
Occurred
Dec 31, 2025
MONROE CAPITAL Corp: new position in Trident Maritime Systems, Inc ($.2M principal)
Occurred
Dec 31, 2025
Barings Capital Investment Corp: principal increased in Trident Maritime Systems, Inc ($32.6M principal)
Occurred
Mar 31, 2025
Barings Private Credit Corp: principal decreased in Trident Maritime Systems, Inc ($9.2M principal)
Occurred
Mar 31, 2025
Barings BDC, Inc.: principal decreased in Trident Maritime Systems, Inc ($15.4M principal)
Occurred
Dec 31, 2024
Barings BDC, Inc.: principal increased in Trident Maritime Systems, Inc ($30.6M principal)
Occurred
Dec 31, 2024
Barings Private Credit Corp: principal increased in Trident Maritime Systems, Inc ($18.2M principal)

Provenance

Graph: Private Credit
Canonical id: dfx:pc:944cc5f6-b730-f22f-6e3b-d9ca1135f5d2
First observed: Dec 31, 2021
Last observed: Jun 30, 2026 2 months ago
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

Trident Maritime Systems, Inc

sponsor (inference, pe portfolio stem): J.F. Lehman and Company LLC

Search this name across graphsid dfx:pc:944cc5f6-b730-f22f-6e3b-d9ca1135f5d2

Kind

Lien

Size, lower bound

Fair value

Maturity

Maturity basis

Spread

PIK

Lenders

BDCs

Status

Last seen

Term loan

First lien

$34.8M

$30.1M

Feb 26, 2027

Html schedule

Unknown

Jun 30, 2026

revolver

First lien

$167,000

$134,000

Feb 26, 2027

Html schedule

Unknown

Jun 30, 2026

revolver

unknown

n/a

Unknown

Jun 30, 2026

BDC

Pieces

Principal

Fair value

Unfunded

Nearest maturity

As of

Barings Capital Investment Corp

$13.9M

$11.9M

n/a

Jun 30, 2026

Barings BDC, Inc.

$12.2M

$10.5M

n/a

Jun 30, 2026

Barings Private Credit Corp

$7.4M

$6.4M

n/a

Jun 30, 2026

MONROE CAPITAL Corp

$1.7M

$1.6M

n/a

Dec 31, 2025

Monroe Capital Income Plus Corp

$1.5M

$1.4M

$24,000

Feb 26, 2027

Jun 30, 2026