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Stock impact report

'Alarming' distress is building in small private credit loans — but software still poses the biggest risk [Business Insider]

Houlihan Lokey, Inc. Class A (HLI) 
Last houlihan lokey, inc. class a earnings: 2/3 04:15 pm Check Earnings Report
US:NYSE Investor Relations: hl.com/us/pressreleases.aspx
Have an account? Log in Private credit loans to small companies are showing the most signs of distress, per Houlihan Lokey. These loans may be struggling now, but the looming wall of maturities in software poses greater risks. Here's why investors are worried about software even if defaults are ticking up elsewhere. The segment of private credit with the worst-looking numbers is not what is worrying investors the most. Smaller companies are showing the most strain, with 13% of private credit loans in the lower-middle market valued below 90% of their initial value, a marker for a distressed loan , which is an "alarming" sign, according to investment bank Houlihan Lokey. But those loans are just a "drop in the bucket" of the total dollar amount of direct lending, said Chris Cessna, a director in Houlihan Lokey's financial and valuation advisory business. Instead, the larger concerns are in an industry that isn't even seeing distress: software "In the software companies, y Show less Read more
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