Private credit underwriting quality questioned
The case was made that the rapid growth of private credit, with large amounts of capital needing deployment, has likely led to a watering down of underwriting standards and covenant protections.
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The story so far
CONTESTED · 147 MENTIONS · 87 EPISODES · 31 SHOWS
24 JUL 2025 — 16 AUG 2026 · 2D AGO
79 SUPPORT · 33 CHALLENGE · 2 REPEAT · 33 MENTIONED
- THE ACQUIRERS PODCAST
- 23 EPISODES NOT SHOWN
- THE LONG VIEW · 3 MENTIONS
- Private credit underwriting quality questioned · THIS IDEA
- Payment-in-kind as a private credit distress signal
- Watch private credit fund leverage maturities
52 EPISODES BETWEEN · 82 MENTIONS · 4 NOT KEPT
- 4 EPISODES NOT SHOWN
- THE LONG VIEW
- ANIMAL SPIRITS · 2 MENTIONS
- THE JULIA LA ROCHE SHOW
- THE COMPOUND AND FRIENDS · 2 MENTIONS
- ANIMAL SPIRITS
- THE JULIA LA ROCHE SHOW
- THE COMPOUND AND FRIENDS · 2 MENTIONS
- ANIMAL SPIRITS
- THE ALPHA EXCHANGE
- FORWARD GUIDANCE
- THE COMPOUND AND FRIENDS · 2 MENTIONS
- THE POMP PODCAST
- THE JULIA LA ROCHE SHOW
- ANIMAL SPIRITS · 4 MENTIONS
- REAL VISION DAILY BRIEFING
- THE KNOWLEDGE PROJECT
- THE COMPOUND AND FRIENDS · 3 MENTIONS
- THE POMP PODCAST
- THE ACQUIRERS PODCAST
- EXCESS RETURNS · 2 MENTIONS
- MACROVOICES
- BUSINESS BREAKDOWNS · 3 MENTIONS
- THE COMPOUND AND FRIENDS
- GOLDMAN SACHS EXCHANGES · 6 MENTIONS
- Private credit's illiquidity premium
- Private credit's software exposure: insulated by credit structure
- Retail private credit outflows: contained, not systemic
- Caution on software ARR loans
- Institutional private credit: opportunity as spreads widen
- Junior capital strategies to benefit from refinancing needs
- THE MEMO BY HOWARD MARKS · 2 MENTIONS
- ANIMAL SPIRITS
- THE RATIONAL REMINDER PODCAST · 3 MENTIONS
- EXCESS RETURNS · 3 MENTIONS
- MONETARY MATTERS WITH JACK FARLEY · 2 MENTIONS
- CAPITAL ALLOCATORS · 4 MENTIONS
- THE JULIA LA ROCHE SHOW
- GOLDMAN SACHS EXCHANGES
- THE ALPHA EXCHANGE
- ANIMAL SPIRITS
- FORWARD GUIDANCE
- ANIMAL SPIRITS
- THE COMPOUND AND FRIENDS · 3 MENTIONS
- ANIMAL SPIRITS
- MONETARY MATTERS WITH JACK FARLEY · 3 MENTIONS
- THE MEMO BY HOWARD MARKS
- FINTECH INSIDER PODCAST BY 11:FS
- MONETARY MATTERS WITH JACK FARLEY
- THE JULIA LA ROCHE SHOW
- THOUGHTFUL MONEY
- GOLDMAN SACHS EXCHANGES
- THE BUSINESS BREW
- EURODOLLAR UNIVERSITY
- THE JULIA LA ROCHE SHOW
- THOUGHTFUL MONEY
- MOTLEY FOOL MONEY
- ODD LOTS
- CAPITAL ALLOCATORS
- EURODOLLAR UNIVERSITY · 2 MENTIONS
- EURODOLLAR UNIVERSITY
- THE COMPOUND AND FRIENDS
- EURODOLLAR UNIVERSITY
- THE JULIA LA ROCHE SHOW · 2 MENTIONS
- MONETARY MATTERS WITH JACK FARLEY
HOW THE SHOWS HAVE DISCUSSED THIS THESIS OVER TIME · NOT A PERFORMANCE RECORD