“Värde are also starting to see more pronounced signs of weakness in credits in several industries, especially those in retail-centred sectors, as a result of workforce disruption and rising input costs.”

Taken from fund manager Varde Partners’ latest “Varde Views” credit market update.

First look

The default calm before the storm?
Private credit default rates have continued to tumble from the peak seen during the initial outbreak of covid, with the latest figures from law firm Proskauer showing the overall rate at just 1.04