The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.

Borrower

P•••••••• I••••••••• L••

Business Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 2022; 2025; 28; 5; LL; LLC Acquisition 3; LLC Acquisitions 7; LLC Acquisitions 7/5/2022

What matters now

  1. 2 of 2 lenders
    on non-accrual

    Non-accrual at 2 of 2 lenders on the latest schedules, first placed in Q4 2024.

    since Q4 2024 · Interest has stopped accruing; the lenders no longer expect to be paid in full.

    FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender →
  2. 89¢ → 34¢
    consensus mark

    Consensus mark 34¢ on cost, down from 89¢ a year ago, 49¢ last quarter.

    Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.

    Derived2 of 2 lenders' own marks, weighted by principal
  3. $5.1M
    principal outstanding

    $5.1M principal held by 2 lenders; matures Mar 2030.

    Q2 2026 · Refinancing is due in 42 months at a 34¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
  4. 49¢ → 34¢
    -15 pts, one lender

    P••••••••• F••••••• R••• C•••••• L••• marked it 49¢ → 34¢, the largest move among 2 lenders this quarter.

    Q2 2026 · One holder repriced far more than the rest.

    FactP••••••••• F••••••• R••• C•••••• L••• schedule of investmentsOpen the lender →
Mark path, consensus per quarter end
Q2 2025: 89¢Q3 2025: 73¢Q4 2025: 62¢Q1 2026: 49¢Q2 2026: 34¢89¢ · 73¢ · 62¢ · 49¢ · 34¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
34¢Consensus: 34¢P••••••••• F••••••• R••• C•••••• L•••: 34¢P••••••••• I••••••••• C•••: 34¢34¢
Principal held
at least $5.1M
sum of BDC pieces, a lower bound
Fair value
$11.8M
34c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Mar 28, 2030
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
26
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
P••••••••• F••••••• R••• C•••••• L•••$5.1M34¢-15 pts
P••••••••• I••••••••• C•••no principal filed34¢-15 pts
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
P••••••••• F••••••• R••• C•••••• L•••term loan first lien
F•••• L••• S•••••• D••• A••••••••• 3/28/2025 M••••••• 3/28/2030 I••••••• E••••••••
$4.5M$1.4M
34c
P••••••••• F••••••• R••• C•••••• L•••term loan first lien
F•••• L••• S•••••• D••• A••••••••• 3/28/2025 M••••••• 3/28/2030 I••••••• P••••••••• Servic
$612,000$194,000
34c
0.00%
P••••••••• I••••••••• C•••term loan first lien
F•••• L••• S•••••• D••• A••••••••• 07/05/2022 M••••••• 03/28/2030 I••••••• B••••••• Servic
Not disclosed$5.1M
34c
0.00%
P••••••••• I••••••••• C•••equity equity
C••••• Equity A••••••••• 03/28/2025 I••••••• B••••••• Services
Not disclosed$0
P••••••••• I••••••••• C•••unstated lien unstatedNot disclosed$5.1M
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $5.1M34c0.00%Mar 28, 20302
first lien revolver first lien
exited Dec 31, 2024
at least $6.9M43cJul 6, 20282
Equity pieces beside the debt: other ($5.1M fair value, 1 BDC), equity ($0 fair value, 2 BDCs)
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$5.1M$6.7M34c0
Mar 31, 20262$5.0M$9.7M49c0
Dec 31, 20252$20.2M$12.3M62c0
Sep 30, 20252$20.9M$15.2M73c1
All 15 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20252$19.3M$17.2M89c1
Mar 31, 20252$18.9M$18.9M100c0
Dec 31, 20242$56.4M$23.7M44c0
Sep 30, 20242$135M$83.0M63c10
Jun 30, 20242$53.7M$34.5M65c4
Mar 31, 20242$61.7M$43.4M84c0
Dec 31, 20232$61.8M$48.4M92c0
Sep 30, 20232$169M$136M96c0
Jun 30, 20232$62.0M$46.7M100c0
Mar 31, 20232$62.2M$81.7M174c0
Sep 30, 20222$77.5M$58.8M100c0
What changed
Full timeline · 30 events
Every change including routine ones
Identity
Group key
P•••••••• I••••••••derivedthe codename stem after legal suffixes and deal words
Spellings
1 across 2 BDCsderived
Industry
Business Servicesreportedas one filer wrote it