Q2 2025 BDC Credit Stress Monitor: Mark-Up/Down Report
Translate BDC filings into actionable insight for credit evaluation and idea generation
BDC filing season offers a rare window into private credit. With limited transparency across non-dealer-covered markets, quarterly filings remain one of the few structured touchpoints to understand how credit quality is shifting beneath the surface.
Our Q2 2025 BDC Credit Stress Monitor: Mark-Up/Down Analysis reports that last quarter, 65% of BDC-held investments deteriorated, an abrupt reversal from Q1, when nearly 60% showed price appreciation. This quarter’s findings reveal material pricing shifts across sectors:
- Top areas of appreciation: Financial Services, Software & Technology, Healthcare & Pharmaceuticals.
- Sectors under pressure: Software & Technology, Financial Services, Healthcare & Pharmaceuticals.
- Overall trend: Nearly two-thirds of observed investments marked down relative to prior-quarter BDC valuations.
The full report includes 1,100+ individual investments and their corresponding portfolio companies, with clear visibility into which positions appreciated or depreciated.
You can take this analysis even further inside the BDC Workstation, where SOLVE Quotes gives you real-time observable levels to validate marks and monitor credit shifts as they happen.
Fill out the form to access the full analysis and sector-level data >>
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