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Middle-Market Credit Is Still Available. The Margin for Error Is Not.

Lending capacity is holding firm for quality collateral while defaults reach a record among smaller borrowers. What that divergence means for capital structure decisions heading into year-end.

Ryan Patrick ToncheffSeptember 22, 20263 min read

The middle-market credit market is sending two signals that appear to contradict each other. Financing capacity remains available. Credit stress continues to build.

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