Middle Market Debt Weekly: ABL Capacity Holds Firm as Fed Raises Rates, Private Credit Defaults Climb
Asset-based lenders closed the week with the cleanest possible illustration of why collateral-indexed capital behaves differently from everything else in a tightening cycle. Calumet amended its asset-based facility on Monday to lift total commitments by $100 million to $600 million, leaving the January 2031 maturity untouched, with Bank of America, N.A. as...
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