••• Locked

PIK_INCREASED measured 2.32x against non-accrual (candidate); PIK introduced 0.93x and is shown as fact, not warning. Amount $25M. Evidence class: fact; source BDC schedules of investments (Inline XBRL, InvestmentIdentifierAxis).

B••••••• L•• · borrower

observed in a filing or announcement; the statement is the source's

Happened 2026-06-30First seen 2026-09-15

disclosed amount: $25.5M
Confidence: 90%
Parties affected: 1, 1 who benefit

See every lender's mark Find rescue capital

Special situations PE firms Open borrower Add to portfolio monitor

DFX product: Credit Attention / amendments

What changed

B••••••• L•• delayed draw: PIK interest of 3.50% appears (was cash pay)

Why now: Dated 2026-06-30 (filing); first seen by DFX 2026-09-15.

Who this matters to: lender marks

each lender's own fair value over cost at Jun 30, 2026

Lender	Exposure	Current mark	QoQ change
F• K•• C•••••• C•••	$151M	98¢	-1 pts
C•• I• P•••••••• H•••••••• L••	$83.3M	98¢	0 pts
K•• E••••••• U• D••••• L•••••• F••••• I•••	$61.5M	no cost filed	no comparable mark
K•• F• I••••• T••••	$44.6M	98¢	-1 pts
K•• F• I••••• T•••• S•••••	$37.1M	98¢	-1 pts

View all 13 lenders

What would make this wrong

PIK reverts to cash pay; the mark holds

Evidence

Evidence, method and the rank's parts

Sources

BDC schedules of investments (Inline XBRL, InvestmentIdentifierAxis) · Jun 30, 2026

What would make this less concerning

PIK reverts to cash pay; the mark holds

Actionability, eleven dimensions (0 to 5)

novelty5
confidence4
timeliness4
actionability3
affected entities1
economic magnitude2
financing consequence4
portfolio consequence4
commercial consequence3
investment consequence3
fundraising consequence0

Rank 47.5: consequence 4, commercial 3, timeliness 4, novelty 5, confidence 4, magnitude 2, affected 1, actionability 3

Family: pik added or increased · public · computed today

More credit attention / amendments signals

A•••• C• A••••••••• C•••$115M knownJun 30, 2026
A•• G•••• H•••••••• I••$187M knownJun 30, 2026
R••••• T•••• P••••••••• L•$129M knownJun 30, 2026

All 192 credit attention / amendments signals

Not yet on record: historical lift, median warning.

Lender	Exposure	Current mark
N•• M••••••• F•••••• C•••	$18.2M	98¢
C••••••• P•••••• C••••• I••••• C•••	$16.7M	98¢
N•• M••••••• G••••••• I• B••• L•••••	$14.9M	98¢
N•• M••••••• P•••••• C••••• F•••	$12.4M	98¢
A• P•••••• C••••• I•••••••• C•••	$11.1M	100¢
N•• S•• I• I•••	$9.97M	98¢
N•• M••••••• G••••••• I• I••••• F•••• L•••••	$3.61M	98¢
A• P•••••• L•••••• F•••	$920K	100¢