Consensus lender mark moved from 95 to 85 cents on cost at 2022-12-31, the 2th consecutive quarter the screen fired

Why now: State INTENSIFIED at the 2022-12-31 quarter end, readable when the filing landed on 2024-02-26.

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

funded debt at cost held by BDC lenders

$95.4M known

basis KNOWN

State

Intensified

Historical signal

2.53x subsequent non accrual rate vs population

median 138 days of warning

Lenders

8

Confidence

0.90

8 BDC lender(s) hold $95M 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.

DFX product: Credit Attention / portfolio monitor

• Peter Edward Kaplan · Portfolio Manager · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
• Adam Brett Weinstein · Managing Director, Executive Vice President · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
• Steven Bruce Klinsky · Managing Member · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
• Bennett Rosenthal · Vice President · ARES CAPITAL MANAGEMENT LLC
• Antony Peter Ressler · Limited Partner · ARES CAPITAL MANAGEMENT LLC
• J Brent Humphries · President, Ab Private Credit Investors · AB PRIVATE CREDIT INVESTORS LLC