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Marks vs market prices
BDCs mark loans at 97.6% of cost; the market prices them far lower
- Status
- watch
- Trend
- worsening
- Layer
- 3. Loans quietly go soft
- Evidence dated
- Sep 30, 2026
- Source
- Reuters via Investing.com: private credit firms mark down more loans
- Checked
- Oct 26, 2026
Score
Score 72.6 of 100 · data 87.6 · news 50. Hard data is scored against its own last few years: a normal day is 0, worse than 90% of its history is 80.
| Hard data | Now | Score | Percentile | As of | Source |
|---|---|---|---|---|---|
| Listed BDCs vs junk bonds, last 20 days | −7.1 pts | 87.6 | 93.8 | Oct 26 | source |
What happened
BDCs carried loans at 97.57% of cost in Q2 while the market says otherwise: FS KKR trades at 57% of its June NAV, Prospect at 26% and Blue Owl Capital Corp at 71%, per today's closes. Moody's has 2026 maturities marked at 88.8% of cost. No new forced writedowns found.
What we watch
Private loan marks against public prices for similar debt. A widening gap is watch; big forced writedowns are flashing.
Past readings
| Checked | Status | Trend | Reading |
|---|---|---|---|
| Oct 26, 2026 | watch | worsening | BDCs mark loans at 97.6% of cost; the market prices them far lower |
| Oct 25, 2026 | watch | worsening | BDCs mark loans at 97.6% of cost; the market prices them far lower |