A Daily Network publication
Explore the network
Private Credit Daily
The Daily Read on Private Credit
Friday, October 2, 2026The Morning Brief →Sign in

The Distressed & Special Sits Desk 0 stories this week · 14 total

SVP hires Goldman's distribution chief to run everything but the investing

The president's chair spans client relations, firmwide infrastructure and a power-and-infrastructure sourcing brief — a distribution build as much as a C-suite appointment.
September 16

Private credit's 0.8% default rate is a size-weighting artifact

Marks below 90 of par in the smallest borrowers have gone roughly twelvefold since 2023 while the payment data on those same credits has barely moved — which is what a workout pipeline looks like before it starts.
September 11

First Brands' $11bn chapter 11 puts private credit stress on the public docket

A liability stack above $11 billion puts multiple direct lenders on the public record in auto-parts' latest stress test.
September 9

Altice International loans fall to 59.75 in 2.6-point slide

Altice International's EUR 1.2bn of 2027 loans broke below 60 on the morning of 8 September; at that level, a 500bp coupon prices recovery, not income.
September 8

First Brands judge knocks out plan and credit bid

A rejected credit bid and a looming Chapter 7 conversion make lien perfection and sale procedure, not just collateral, the deciding factor in private credit recoveries.
August 25

Private credit defaults fall despite AI software panic

S&P data shows the US default rate dropped to 3.9% by mid-2026, even as artificial intelligence anxieties hang over software-heavy direct lending books.
August 24

Distressed desks pivot from default waves to name-picking

A lower default count for 2025 is forcing distressed desks to swap macro-wave bets for the harder work of picking individual credits.
August 21

Prospect of rising US defaults opens liability management avenues

Private Debt Investor's April 8 trend story sees higher US default expectations as an opening for liability management work.
August 21

Moody's: CLO firebreak contains single-obligor risk

Moody's says CLO concentration limits are the wall a single borrower's exposure hits first.
August 20

Distressed-for-control returns as SVB-era crunch makes lenders owners

Private Debt Investor argues the liquidity crunch that felled SVB is turning lenders into owners again.
August 18
Every weekday · 6:30 a.m. ET

The Morning Brief

The latest from Private Credit Daily, in your inbox every weekday. Free.