The Private Credit Time Bomb: Rupert Mitchell Warns of Impaired Loans and Worthless Equity Cushions 1:26:14
The Monetary Matters Network
The Private Credit Time Bomb: Rupert Mitchell Warns of Impaired Loans and Worthless Equity Cushions
The private credit market is currently sustaining a 'phantom solvency' through the aggressive use of Payment-in-Kind (PIK) toggles and amend-and-extend maneuvers that mask the total erosion of equity cushions in 2021-2023 vintage LBOs.
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