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Maverick Bidco Inc: lender marks fell to 75 cents across 10 BDC lenders, second consecutive quarter | DFX Data Factory

IntensifiedSignalCredit deterioration (intensified)Mar 31, 2025 · first seen 5 days ago

M••••••• B•••• I••: lender marks fell to 75 cents across 10 BDC lenders, second consecutive quarter

M••••••• B•••• I•• · borrower

a detector's reading of facts over time and relationships; a reading, not a fact

What changed

Consensus lender mark moved from 82 to 75 cents on cost at 2025-03-31, the 2th consecutive quarter the screen fired

Why now: State INTENSIFIED at the 2025-03-31 quarter end, readable when the filing landed on 2025-05-15.

Who this matters to

only relationships the graph supports

Primary

New M••••••• Guardian IV BDC, L.L.C.$25.6Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
New M••••••• Guardian IV I••••• Fund, L.L.C.$6.0Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
B••••••••• P•••••• C••••• F•••$338Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
OHA Senior P•••••• L•••••• Fund (U) LLC$91,000adverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
N•• M••••••• P•••••• C••••• F•••$24.3Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
A•••••• S•••••••• C••••• F••• II LLC$2.1Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
A•••••• S•••••••• C••••• F•••$47.2Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
T. Rowe Price OHA Select P•••••• Credit Fund$34.5Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
VISTA CREDIT S•••••••• LENDING CORP.$59.3Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of
A•••••• P•••••• C••••• F•••$21.5Madverse
holds funded debt of the borrower. the mark is this lender's own · pc_position latest as_of

Potential beneficiaries

Special situations funds (class)favourable
buys or refinances stressed credit. a consensus markdown is where rescue capital prices · class
Restructuring advisers (class)favourable
advises on amendments and workouts. the amendment families fire on the same tape · class

Counterparties

Maverick Bidco Incadverse
the marked company. the company whose lenders moved · df_signal_state

Buyer classes for this family: Private credit lenders, PE sponsors, Special situations funds, Restructuring advisers, LPs and allocators.

Economic footprint

probability and consequence kept apart

funded debt at cost held by BDC lenders: $166M known
State: Intensified
Historical signal: 2.53x subsequent non accrual rate vs population
Lenders: 10
Confidence: 0.90

Why it matters

10 BDC lender(s) hold $166M of funded debt at cost; no sponsor bridged. Borrowers this screen flags reached non-accrual at 2.53x the population rate within a year, median warning 138 days (stage-6 harness, non-accrual outcome). Non-accrual is the lender's own determination, not a court's: this is a mark signal, not a default prediction.

What to do next

workflow actions, never advice

Open borrower View lenders View amendment history Add to portfolio monitor Monitor every borrower of this sponsorView sponsor

DFX product: Credit Attention / portfolio monitor

Who would own this decision

public roster names; business contact details are an account feature

P•••• E••••• K••••• · Portfolio Manager · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
A••• B•••• W•••••••• · Managing Director, Executive Vice President · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
S••••• B•••• K•••••• · Managing Member · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
A••• M••• S••••••• · Portfolio Manager/S••••• Partner · OHA PRIVATE CREDIT ADVISORS II, L.P.
A••• B•••••• K••••••• · Portfolio Manager/S••••• Partner · OHA PRIVATE CREDIT ADVISORS II, L.P.
W•••••• H•••••• B••••••• · President/S••••• Partner · OHA PRIVATE CREDIT ADVISORS II, L.P.

Evidence

Evidence, method and the rank's parts

Sources

BDC schedules of investments (Inline XBRL) · Mar 31, 2025 · consensus of lender marks; df_signal_state and df_signal_consequence

What would make this less concerning

the next quarter's consensus mark recovers; the facility is repaid or refinanced

Actionability, eleven dimensions (0 to 5)

novelty4
confidence4
timeliness2
actionability4
historical lift2.53
affected entities5
economic magnitude3
financing consequence5
portfolio consequence5
commercial consequence5
investment consequence4
fundraising consequence1

Rank 60.6: consequence 5, commercial 5, timeliness 2, novelty 4, confidence 4, magnitude 3, affected 5, actionability 4, measured lift 2.53

More credit deterioration (intensified) signals

IntensifiedSignalCredit deterioration (intensified)

M•••••••• I••: lender marks fell to 51 cents across 8 BDC lenders, second consecutive quarter

State INTENSIFIED at the 2026-06-30 quarter end, readable when the filing landed on 2026-08-13.

Exposure: $1.4B knownfunded debt at cost held by BDC lenders
Who this matters to: Private credit lenders, PE sponsors +3
Historical: 2.53x non accrual, 138d median

H•• C•••••••• L•••••• F••• · lender B••••••••• P•••••• C••••• F••• · lender A••••• D••• S•••••••• B•• · lender B••••••••• S•••••• L•••••• F••• · lender

Credit Attention / portfolio monitorJun 30, 2026 · seen 5 days ago

Data Factory

M••••••• B•••• I••: lender marks fell to 75 cents across 10 BDC lenders, second consecutive quarter

M•••••••• I••: lender marks fell to 51 cents across 8 BDC lenders, second consecutive quarter

K••••• I••: lender marks fell to 69 cents across 20 BDC lenders, second consecutive quarter

P••••••••• L••: lender marks fell to 41 cents across 14 BDC lenders, second consecutive quarter

C••••••••• O•••••••• I••: lender marks fell to 63 cents across 10 BDC lenders, second consecutive quarter

C••••••••• B••••• I••: lender marks fell to 86 cents across 12 BDC lenders, second consecutive quarter

S••••• S•••••••• I••: lender marks fell to 68 cents across 8 BDC lenders, second consecutive quarter