Distressed & Defaults

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Analyst Insights

CoreWeave’s not-so-secret weapons: Price hikes and an Nvidia trump card

October 16, 2026

The neocloud’s bond selloff shocked the market, but the turbulence should settle thanks to price increases and support from Nvidia.

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Private Credit

Monroe Capital’s Koenig dismisses the distinction between ‘good’ and ‘bad’ PIK

October 15, 2026

Speaking at the CAIS conference in LA this week, the head of the $23.8B lender spoke out against maneuvers being employed to mask the health of credit portfolios.

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Private Credit

Nearly 10% of top BDCs’ investments tied to borrowers with a distressed position

September 30, 2026

Software and second-lien loans account for 89% of the year-over-year increase in distressed debt.

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Distressed & Defaults

ELFA urges investors to reject InPost’s “unprecedented” anti-cooperation clause

September 30, 2026

The European Leveraged Finance Association warns terms could disenfranchise creditor groups and set a market precedent.

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Distressed & Defaults

Q&A: Michael Psaros on PE and public policy

September 25, 2026

The co-founder of KPS Capital Partners discusses the policy reforms he would like to see, the negative impact of high rates and what industrial turnaround investing looks like today.

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Distressed & Defaults

Leveraged loan default rate dips further to 0.87%; distress ratio eases

September 2, 2026

The current payment default rate (by amount) falls below the running 5-year and 10-year average monthly default rates.

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Distressed & Defaults

Leslie’s downgraded to CCC- as distressed exchange deemed likely

August 26, 2026

S&P Global Ratings said it foresees a liquidity shortfall in the next six months for the swimming pool supplies company.

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Distressed & Defaults

Global corporate defaults hit 12 in July, mostly from missed payments – S&P

August 18, 2026

Distressed exchanges remain the dominant cause of default in 2026, at 27 of the 62 defaults YTD.

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Private Credit

SLR forecasts lower private credit recoveries due to covenant erosion

August 11, 2026

SLR’s Michael Gross says lenders may have to throw historic recovery data out the window.

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Distressed & Defaults

Leveraged loan default rate sticks below 1% in July; distress ratio edges higher

August 7, 2026

The distress ratio, defined as the share of loans trading below 80 cents on the dollar, ticked up to 6.89% in July.

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Restructuring

UK restructuring plans on radar as US debtors scan beyond Chapter 11

August 3, 2026

English restructuring plans are being embraced by US-linked debtors seeking alternatives.

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Private Credit

Private credit default rate falls to 2.5% in Q2, software stable – Proskauer

July 31, 2026

The Proskauer Private Credit Default Index tracks US senior secured and unitranche loans, including 716 loans representing $195.6 billion in original principal amount.

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Distressed & Defaults

H2 2026 Distressed Outlook: Elevated cost of capital, software debt in focus

July 28, 2026

Low default data belies a rising share of loans priced at distressed levels as distressed investors eye the potential for elevated restructurings down the road.

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Distressed & Defaults

Credit managers see risks, but no clear triggers: IACPM Survey

July 24, 2026

Respondents point to several areas of concern, with continuing geopolitical risks, private credit and the future of AI topping the list.

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Distressed & Defaults

Quincy Health rated CCC- after missing cash interest payments, PIK conversion

July 16, 2026

S&P said its new CCC- rating for the company reflects “potential for a default or [a] distressed exchange within six months.”

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Leveraged Loans

Leveraged loan default rate dips below 1% in June, though distress ratio rises

July 10, 2026

PitchBook LCD’s Default Predictor estimates a six-month forward default rate of 1.69% by issuer count on legacy defaults.

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Distressed & Defaults

EchoStar’s Dish files Chapter 11 after spectrum sale to AT&T is delayed

July 2, 2026

The filing comes on the heels of “unforeseen delays” in the closing of the company’s $23 billion sale of low-band and mid-band spectrum licenses to AT&T.

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Distressed & Defaults

Seventeen global corporate defaults in May bring YTD total to 45 – S&P

June 26, 2026

Last month’s tally was the highest since May 2025.

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