••• Locked

PIK_INCREASED measured 2.32x against non-accrual (candidate); PIK introduced 0.93x and is shown as fact, not warning. Amount $41M. Evidence class: fact; source BDC schedules of investments (Inline XBRL, InvestmentIdentifierAxis).

O••••••••• N•••• A••••••• I•• · borrower

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

Happened 2026-06-30First seen 2026-09-16

disclosed amount: $41.2M
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

O••••••••• N•••• A••••••• I•• revolver: PIK interest of 2.50% appears (was cash pay)

Why now: Dated 2026-06-30 (filing); first seen by DFX 2026-09-16.

Who this matters to: lender marks

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

Lender	Exposure	Current mark	QoQ change
G•••• C•••••• B••• I•••	$59.2M	99¢	0 pts
O•••••• S•••••••• C••••• F•••	$41.6M	96¢	0 pts
B••••••••• P•••••• C••••• F•••	$29.3M	99¢	-1 pts
N•••• H•••• P•••••• I••••• F••• L••	$26.8M	99¢	-1 pts
C•••••• C••••• S••••••••• I•••	$13.1M	94¢	-5 pts

View all 16 lenderslargest exposure first

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	QoQ change
S•••••••• P•••••• C••••• F••• L••	$12.7M	99¢	0 pts
M••••• S•••••• D••••• L•••••• F•••	$12.4M	99¢	0 pts
B••••••••• S•••••• L•••••• F•••	$11.9M	99¢	-1 pts
O•••••• S•••••••• L•••••• C•••	$11.3M	96¢	0 pts
C•••••• S•••••• L••••••• I•••	$10.5M	94¢	-5 pts
A••• C•••••• C•••	$8.7M	98¢	-1 pts
N•• M••••••• G••••••• I• B••• L•••••	$8.68M	98¢	-1 pts
N•••• H•••• P•••••• I••••• F••• A• L••	$4.51M	99¢	0 pts
P••••• S••••• C•••••• B•• I•••	$4.5M	95¢	-1 pts
N•• M••••••• G••••••• I• I••••• F•••• L•••••	$4.34M	98¢	-1 pts
T• S••••• B•• L••	$2.26M	99¢	-1 pts